The car manufacturer Renault is reorganizing and betting on electric

French automaker Renault has presented a major reorganization in an effort to attract investors into electrics.

© AFP/Kirill Kudryavtsev

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The French car manufacturer Renault announced to investors on Tuesday, November 8, the acceleration of its shift to electric.

Two entities will now make up the diamond group.

One 100% electric called Ampere and launched on the stock market next year, the other Power, with thermal and hybrid activities, will be shared with the Chinese group Geely.

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In a world that turns its back on heat engines and where the giants of the sector are called Tesla or BYD, Renault chooses for its new entity dedicated to electric the name of Ampere, without accent to better export to the international.

This new manufacturer should have 10,000 employees, all based in France, according to Renault.

Above all, it would be open to investors, Ampere to be launched on the stock market by the end of 2023. To these investors, including the American chip manufacturer Qualcomm -already positioned-, Renault promises great profitability: 30% annual growth in the next eight years, 10% margin in 2030.

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With regard to its internal combustion engine and hybrid activities under the

banner , Renault is to join forces equally with the Chinese group Geely, which already owns Volvo Cars, to manage the factories of non-electric vehicles and to create a soft equipment supplier.

's name

.

This would produce engines, gearboxes and hybridization systems for thermal cars (petrol and diesel) and hybrids.

It would have 19,000 employees in Europe, China and South America.

But these projects will still have to fit into the other mechanics in progress, that of the overhaul of the alliance with the Japanese Nissan.

It is still the subject of discussions between the management of the two groups.

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