Renault Splits Off EVs Into Own Unit
Part of industry shift away from ICE vehicles.
Renault said the EV unit will employ 10,000 people by next year.
IMAGE: Renault
Renault said it will split off electric-vehicle production into a separate unit and make conventional cars in a joint venture with Chinese partner Geely.
It said the EV unit will employ 10,000 people by next year.
The French carmaker said it hopes the changes will bring investment to help it transition away from vehicles powered by internal combustion engines.
Carmakers have been making strategic plans to transition to electrified vehicles, pressed by government regulations, climate-change anxieties and greater consumer demand. Though such vehicles still make up a small fraction of the overall vehicle market, their market share is gaining, despite many questions about charging infrastructure, vehicle reliability and more.
READ MORE: Renault SA and Nissan Negotiate Partnership Overhaul
Originally posted on Auto Dealer Today
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