The Renault Group is seeking to create a new subsidiary for its electric vehicle business as it seeks to accelerate development and attract investment.
Explaining the decision, CEO Luca de Meo said: “Look it as a sports team: we have a new stadium with new players and different approaches. We have to create a new game - and I’d rather do that now than at the last minute before electric vehicles are made mandatory.
“The best way to do that is to take a few thousand people and put them in a new organisation that isn’t set on doing things the same way it has for 123 years.”
