UK markets closed
  • FTSE 100

    7,585.46
    +20.54 (+0.27%)
     
  • FTSE 250

    20,372.52
    +123.78 (+0.61%)
     
  • AIM

    968.25
    +10.25 (+1.07%)
     
  • GBP/EUR

    1.1764
    +0.0023 (+0.20%)
     
  • GBP/USD

    1.2631
    +0.0025 (+0.20%)
     
  • BTC-GBP

    22,812.14
    -644.66 (-2.75%)
     
  • CMC Crypto 200

    625.79
    -3.71 (-0.59%)
     
  • S&P 500

    4,158.24
    +100.40 (+2.47%)
     
  • DOW

    33,212.96
    +575.77 (+1.76%)
     
  • CRUDE OIL

    115.07
    +0.98 (+0.86%)
     
  • GOLD FUTURES

    1,850.60
    +3.00 (+0.16%)
     
  • NIKKEI 225

    26,781.68
    +176.84 (+0.66%)
     
  • HANG SENG

    20,697.36
    +581.16 (+2.89%)
     
  • DAX

    14,462.19
    +230.90 (+1.62%)
     
  • CAC 40

    6,515.75
    +105.17 (+1.64%)
     

Renault says split-off electric unit could employ 10,000 staff by 2023

·1-min read
France's Renault unveils the new Renault Megane E-Tech Electric car

PARIS (Reuters) -French carmaker Renault on Thursday said the two business units that would result from its planned separation of electric and conventional car production could each employ 10,000 staff by 2023.

Renault said in a statement it was currently studying the option of creating two separate entities to manage a major shift towards fossil-free vehicles and would present progress of these studies at a capital market day in the autumn.

"The aim of these strategic reflections is to adapt each technology, drawing on the group's strengths and expertise on its various markets and within the Alliance", Renault said.

Renault reiterated that jobs dealing with EV production would be bundled inside France, while it's workforce for conventional cars will be located abroad.

Sources earlier this year told Reuters that Renault's Chief Executive Luca de Meo wanted to press ahead with plans to split up the group despite potentially costly uncertainty over its interests in Russia.

Playing catch-up with rivals like Tesla and Volkswagen, the French automaker first outlined its strategy shift in February.

Several working groups are actively working on the creation of two separate legal structures, code-named "Ampere" for the electric and "Horse" for the thermal and hybrid assets, two of the three sources said.

(Reporting by Tassilo Hummel; Editing by Kirsten Donovan)

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting