Renault plans an IPO (initial public offering) for its electric car business
Chief Financial Officer Thierry Pieton said in a call following the release of first-quarter results that the Renault Group were considering all options for their electric car business including a spin off with a potential IPO in the second half of 2023.
More details will be available at their Capital and Markets day in the fall.
Renault announced in February that it was planning to split off its internal-combustion powertrain business.
Pieton is quoted as saying “We’ve had a lot of interest from partners since we made the announcement.That project is moving quite significantly.”
Renault have hit the headlines in recent weeks following sharp criticism from Ukraine's President Volodymyr Zelenskyy who had slammed Renault for restarting production in a Moscow factory. Hours later Renault announced that they had suspended operations in Russia.
In the statement announcing its U-turn, Renault also said it was "assessing the available options" when it came to its stake in AvtoVaz, which makes Lada vehicles. The company employs 45,000 workers in Russia
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