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    RNO   FR0000131906

RENAULT

(RNO)
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Real-time Euronext Paris  -  11:35 2022-11-29 am EST
33.78 EUR   +1.17%
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Renault to hold capital market day on Nov. 8

09/29/2022 | 02:53am EST
Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition center, in Paris

PARIS (Reuters) - French carmaker Renault said on Thursday it will hold its capital market day on Nov 8, when it is expected to detail its plan to create a unit dedicated to the production of electric vehicles (EV).

Playing catch-up with rivals like Tesla and Volkswagen, the French automaker first outlined its strategy shift in February, days before Russia's invasion of Ukraine.

Renault intends to base its EV-dedicated business in France while a separate entity will bring together all of its petrol and hybrid engine and transmissions production sites in Spain, Portugal, Turkey, Romania and Latin America.

By sharing costs for diesel and gasoline engines that are set to decline as EV sales rise, Renault hopes to free up funds to reinvest in electric models.

(Reporting by Gilles Guillaume; Writing by Benoit Van Overstraeten; Editing by Richard Lough)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
RENAULT 1.17% 33.78 Real-time Quote.9.31%
TESLA, INC. -1.14% 180.83 Delayed Quote.-48.07%
US DOLLAR / TURKISH LIRA (USD/TRY) 0.05% 18.6323 Delayed Quote.39.77%
VOLKSWAGEN AG 1.92% 137.84 Delayed Quote.-23.80%
All news about RENAULT
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Financials
Sales 2022 44 678 M 46 198 M 46 198 M
Net income 2022 -569 M -588 M -588 M
Net cash 2022 693 M 716 M 716 M
P/E ratio 2022 -18,5x
Yield 2022 0,25%
Capitalization 9 027 M 9 334 M 9 334 M
EV / Sales 2022 0,19x
EV / Sales 2023 0,15x
Nbr of Employees 160 000
Free-Float 63,7%
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Mean consensus OUTPERFORM
Number of Analysts 20
Last Close Price 33,78 €
Average target price 42,16 €
Spread / Average Target 24,8%
EPS Revisions
Managers and Directors
Luca de Meo Chief Executive Officer
Thierry Pieton Chief Financial Officer & Senior Vice President
Jean-Dominique Senard Chairman
Luc Julia Chief Scientific Officer
FrÚdÚric Vincent Chief Information Officer
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