Renault considering separate bourse listing for electric vehicle assets – CEO

A board with the logo of Renault is on display in close proximity to a car showroom in Saint Petersburg, Russia March 24, 2022. REUTERS/REUTERS PHOTOGRAPHER/File Photograph

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PARIS, April 12 (Reuters) – Renault (RENA.PA) Chief Govt Luca de Meo said on Tuesday that the automaker’s strategies to create a individual division for its electrical (EV) assets could inevitably lead to a individual listing.

“This could necessarily mean a different listing. This is a conditional, this is exactly what we are examining,” De Meo advised a news meeting.

The approach to separate the combustion engines action could interest Nissan or very long-expression traders, he included.

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De Meo needs to press in advance with options to create independent divisions for electrical (EV) and combustion motor automobiles irrespective of possibly highly-priced uncertainty more than its passions in Russia, three resources told Reuters final 7 days. examine extra

Participating in capture-up with rivals like Tesla (TSLA.O) and Volkswagen (VOWG_p.DE), the French automaker initially outlined its strategy shift in February, times in advance of Russia’s invasion of Ukraine, saying its turnaround program was ahead of routine.

De Meo on Tuesday claimed Renault was “pretty self-assured” to provide on its turnaround prepare as it was financed irrespective of the effect of the Russian belongings suspension.

The war in Ukraine has resulted in Western powers imposing intensive sanctions against Russia, leaving Renault, the greater part owner of Russia’s most important carmaker Avtovaz , confronted with what de Meo has known as a “incredibly sophisticated predicament”.

After asserting the suspension of its functions in Russia, Renault is examining its options for the Moscow plant and its shareholding in Avtovaz.

“We are well armed to consider to find a remedy in the prolonged expression that can guard our property and our staff, and in point not to wholly insult the future due to the fact life goes on and we hope the predicament on the floor returns to regular,” De Meo reported on Tuesday.

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Reporting by Gilles Guillaume, Dominique Vidalon
Modifying by GV De Clercq, David Evans and Grant McCool

Our Requirements: The Thomson Reuters Trust Ideas.

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