"Our CEO Luca de Meo engaged in pivotal conversations with industry leaders, including our partners Geely and Dongfeng, key suppliers but also the new players like the founders of Li Auto and Xiaomi Technology," Renault's procurement and partnerships chief Francois Provost said in a post on LinkedIn.
The strong presence of Chinese competitors at the show, which returns this week after a four-year hiatus due to the Covid-19 pandemic, shows "they are interested in our market, in our customers," Renault CEO Luca de Meo said. Speaking to media later, after unveiling Renault's highly-anticipated new electric R5, he insisted Europe's auto industry was "up for the challenge".
In the United States, there are massive subsidies. In China, there is an industrial strategy pursued with ruthless effectiveness. And yet in Europe, there are just “deadlines and fines”.
Also, General Motors pauses Chevy Colorado and GMC Canyon sales for software issues, and a Toyota affiliate is facing a crackdown for emissions cheating.
(Reuters) -French automaker Renault on Wednesday reported a slightly lower than expected full-year 2023 net profit, but posted margin and revenue gains and offered more cash to investors with a huge increase in its dividend. Renault said it would propose a dividend of 1.85 euros ($1.98) for 2023, up from a payout of 0.25 euro for 2022, joining U.S. automakers Ford and General Motors in giving more cash to investors. The stronger cash position and margin growth are the latest sign that the carmaker's turnaround under Chief Executive Luca de Meo is bearing fruit.
Stellantis Tie-up With Renault: "There is no plan under consideration regarding merger operations with other manufacturers," said Elkann, who also heads Exor, the Agnelli family holding company that is the largest single shareholder in Stellantis.
Ampere IPO Proces: In a sweeping overhaul unveiled in 2022, Renault decided to split off its electric vehicle unit into Ampere, hoping that running it as a separate company would make it more agile in the rapidly developing sector.
Nissan: After years of contentious partnership, the announcement on Wednesday confirms that the new alliance between the three automakers is smaller and more pragmatic, focusing on regional cooperation.