Home » Renault will hold its long-awaited “capital market day” on November 8 – 09/29/2022 at 10:05

Renault will hold its long-awaited “capital market day” on November 8 – 09/29/2022 at 10:05

by archyde

File photo of the Renault logo on the Renault Scenic Vision concept car at the Viva Technology conference

PARIS (Reuters) – Renault set November 8 as the date for its long-awaited “capital market day” on Thursday, during which it must detail its plan to create two separate entities, one dedicated to electrics and the other to engines. thermals.

“Luca de Meo, (Chief Executive Officer) of Renault Group and Thierry Piéton, (Chief Financial Officer), will present an update of the group’s strategy and the medium-term financial objectives of the Renaulution plan”, added the French car manufacturer in a statement.

After returning last year to a profit for the first time in three years, Renault left this year, at the cost of a drastic restructuring and despite its exit from the Russian market, to achieve the objectives of its strategic plan with three years in advance: an operating margin of more than 5% and an operating free cash flow for the automotive industry of more than 1.5 billion euros.

It has also embarked on a policy of partnerships thanks to which it hopes to return to the race for electrification despite the difficulties in supplying electronic components which persist throughout the industry and which have just forced it to suspend production in its Douai plant (North), birthplace of the new electric Mégane, a flagship product for the group.

Precursor of the electric with its partner Nissan during the previous decade, the diamond group has been dethroned by newcomers like Tesla or the ambitions of Volkswagen.

By opening its future thermal entity to external partners, it intends to free up additional leeway to finance the electrical and software part of its activities.

(Gilles Guillaume, edited by Nicolas Delame)

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