Renault estimates that a separate electricity unit could employ 10,000 workers by 2023.

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Renault estimates that a separate electricity unit could employ 10,000 workers by 2023.

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

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.

Story Highlights

  • “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.

  • 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.