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Calls out the "Renaulution":
The new boss of the French car manufacturer Renault, ex-Seat boss
Luca de Meo
Photo: Eric Piermont / dpa
The French car maker Renault wants to find its way back on the road to success with a sharper Sparkus and the conversion to a software-driven technology group.
The new CEO Luca de Meo explained on Thursday his restructuring program called "Renaulution", with which he intends to increase the profitability of the troubled group in order to keep up with the tougher competition for one of the top spots in electric mobility.
De Meo relies less on mass than its predecessors and wants to achieve a return - also by relying more on software.
"We will evolve from a car company that works with technology to a technology company that works with cars and will generate at least 20 percent of its sales with services, data and energy trading by 2030," said de Meo, who has been at the helm since July from Renault and had previously worked for Volkswagen for many years.
In the course of the conversion, Renault is to reach the savings target of two billion euros set by 2022 more quickly and further reduce costs - by three billion euros by 2025.
Investments in research and development are to be reduced from ten percent of sales to below eight percent by then.
At least ten of the two dozen new car models planned by 2025 should be pure electric cars.
Renault had already announced savings of two billion euros within two years, including a reduction of 15,000 jobs and a restructuring of the plants.
The French want - like their Japanese partner Nissan, with whom they are intertwined - to reverse the expansion driven by the slain CEO Carlos Ghosn, which was at the expense of profitability.
The two car companies were already considered ailing when the corona pandemic broke out last year.
In the opinion of stockbrokers, they have so far lacked a plan to use the synergies from the alliance, which also includes the Japanese car maker Mitsubishi, and to share the investments for the switch to electromobility and digitalization.
wed / DPA, Reuters
