by Gilles Guillaume
PARIS, May 25 (Reuters) – Renault has received several partnership requests for the future thermal engine entity it intends to create alongside an entity dedicated to electrical and software, and of which it could keep only 40 percent, several sources familiar with the matter told Reuters.
The diamond group must detail in the fall, during a “capital market day”, its project aimed at creating within it an electrical pole based in France, and another based abroad and bringing together engine sites. and gasoline and hybrid transmissions in Spain, Portugal, Turkey, Romania and Latin America.
By sharing the costs of a gasoline activity that is still dominant, but is set to decline rapidly over the decade, particularly in Europe, due to changes in regulations, Renault hopes to free up funds to reinvest in electrics, a technology whose it was a pioneer with Nissan and Mitsubishi, but where it is now eclipsed by “pure players” like Tesla.
“The group has already received requests for partnerships” for the entity ICE (internal combustion engines), one of the sources told Reuters.
If the French car manufacturer intends to remain majority shareholder in its electrical division, which will employ around 10,000 people and which it could list on the stock market in the second half of 2023, it plans to remain only reference shareholder, and not control, of its thermal entity. , which will have a similar workforce.
“Renault should retain a significant, but not majority, stake,” another source said. “Even if it is not fixed, we are currently talking about 40% for Renault and 60% for partners.”
The builder declined to comment.
Among the potential partners of this activity, the general manager of the diamond group mentioned in April Nissan, other automotive groups and long-term investors.
Luca de Meo is to go to Japan again next month to discuss in particular the possible participation of his Japanese partner in his projects for electrical and thermal units.
Engaged in a drastic restructuring to redress its financial situation, Renault recently sealed new associations alongside its historical alliances with Nissan, Mitsubishi and Mercedes.
At the beginning of May, it sold 34% of its South Korean subsidiary to Chinese Geely Automobile Holdings, already owner of Volvo Cars and shareholder of Mercedes, and intends to develop with it initially hybrid vehicles produced in the Renault factory in Busan. . (Gilles Guillaume, edited by Bertrand Boucey)