Renault addresses concerns about possible withdrawal from Romania

Renault Group, commenting on the rumours circulated about it placing its Romanian operations in a group to be partly divested, assured that nothing wrong would happen in Romania - but more will be announced this autumn.

However, the info provided along the response sent to Profit.rois broadly in line with the scenario sketched by Autonews.com.

“Renault Group is studying the creation of two new entities in order to strengthen the efficiency and operational performance of the skills and activities in the field of electric vehicles and, respectively, those with thermal and hybrid propulsion. The scenario for creating these two new entities is part of the Renaulution plan, which is self-financed by the Renault Group. No personnel reductions or separation of certain activities or entities is considered," Renault Group representatives told Profit.ro.

"For the new entity that regroups the production activities of the thermal and hybrid powertrains, including those from Mioveni, accepting some partner shareholders is considered. The condition for accepting such partners is to have a logic of both product development and industry. Renault Group will keep the Dacia brand and its activity in Romania, in the study being discussed only a part of the mechanical perimeter. Renault Group does not need to sell assets to finance the new entity that covers the perimeter of electric vehicles under the Renault brand. More information will be provided in the autumn of this year,” they also said.

According to Autonews.com, Renault has received several proposals for the combustion-engine division, to include all its Romanian assets, that it plans to create alongside one dedicated to electric vehicles and software, two sources familiar with the matter told Reuters.

It will not be a controlling shareholder of the combustion engine unit, said two sources familiar with the plans. One of the sources said Renault might hang on to a 40% stake.

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