(Boursier.com) — Great victory for Luca de Meo. For the first time in many years, Renault weighs more than its partner Nissan Motor on the stock market. Up almost 40% in 2024, displays one of the best performances of the year on the Parisian market and is now valued at 15 billion euros, or around $1 billion more than the Japanese manufacturer.
Renault “continues to improve its margins and free cash flow thanks to flawless execution”, Pierre-Yves Quemener, analyst at Stifel, explains to ‘Bloomberg’. Under the leadership of Luca de Meo, Renault withdrew from Russia, separated its electric vehicle and combustion engine activities and negotiated new partnerships, notably with Qualcomm, Volvo and China’s Geely. In a very competitive market, the boss of the diamond manufacturer is counting on a set of new electric models, including the famous R5 E-Tech at 25,000 euros, to stand out further.
Nissan, meanwhile, is struggling due to its aging product line, a lack of hybrid options in North America and intensifying competition in China, the agency points out. Last year, the two partners began to loosen their capital ties after their alliance deteriorated over the years. Renault sold a first tranche of Nissan shares at the end of last year and a further 2.5% stake at the end of March, earlier than analysts expected. Despite everything, Nissan remains a strong ally for the French group. The Japanese group recently confirmed that it will invest in Ampère, the electrical and software subsidiary of Renault, independently of its IPO.
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