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☆ Aston Martin F1 team gets investment from PE firm Arctos
▼ + stars: | 2023-11-16 | by ( Anousha Sakoui | ) www.reuters.com time to read: +1 min

The Aston Martin logo is seen on a V12 Vantage car at the company’s factory in Gaydon, Britain, March 16, 2022. REUTERS/Phil Noble/File Photo Acquire Licensing RightsNov 16 (Reuters) - The Aston Martin Formula One team said on Thursday it had agreed on an investment by U.S. private equity firm Arctos Partners in exchange for a minority shareholding. The stake sale values the car racing group at 1 billion pounds ($1.24 billion), a person with knowledge about the matter told Reuters. "They share our vision for our ultra-luxury brand, and they are extremely passionate about the sport and its prospects," Aston Martin Formula One Executive Chairman Lawrence Stroll said in a statement. The F1 team is sponsored by the eponymous British luxury carmaker in which Stroll holds the largest shareholding of over 25%.

Persons: Aston Martin, Phil Noble, Lawrence, French carmaker, Ryan Reynolds, Rob McElhenney, Prerna Bedi, Maju Samuel Organizations: Aston, REUTERS, Aston Martin Formula, U.S, Arctos Partners, Reuters, French carmaker Renault, Alpine, Thomson Locations: Gaydon, Britain, French, Bengaluru

☆ Renault to launch new Slovenia-made electric city car - sources
▼ + stars: | 2023-11-13 | by ( Gilles Guillaume | ) www.reuters.com time to read: +2 min

A logo of Renault is seen on a car during the French carmaker Renault's 2022 annual results presentation in Boulogne-Billancourt, near Paris, Feburary 16, 2023. REUTERS/Christian Hartmann Acquire Licensing RightsPARIS, Nov 13 (Reuters) - Renault (RENA.PA) will reveal the launch of an additional "affordable" city electric car during this week's capital markets day for its new EV unit Ampere, three sources familiar with the matter told Reuters. Ampere targets 600,000 produced electric vehicles in 2026 and one million in 2031. The company sold just under 50,000 electric Megane and Kangoo vehicles, its current models, last year. It flagged the arrival of electrified Scenic and R5 models for 2024, followed by the R4, in 2025.

Persons: Christian Hartmann, Ampere, Gilles Guillaume, Tassilo Hummel, Silvia Aloisi Organizations: Renault, REUTERS, Rights, Ampere, Reuters, Nissan, Thomson Locations: Boulogne, Billancourt, Paris, French, Mesto, Slovenia

☆ Renault had 'friendly' discussions with Chinese investment bank - spokesperson
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +1 min

The logo of Renault is seen at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, June 15, 2023. REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsPARIS, Oct 31 (Reuters) - French carmaker Renault (RENA.PA) had "friendly" discussions with Chinese investment bank CICC about potential cooperation, but nothing has been signed or decided so far, a company spokesperson said, confirming media reports. "A meeting took place between CICC and Renault Group for friendly discussions about China's market," a spokeswoman told Reuters. Chinese media outlet Cailianshe reported on Friday that Renault and CICC had reached a preliminary intention agreement to jointly invest to establish an investment fund to focus on the NEV industry chain, citing people familiar with the matter. Cailianshe added that Renault CEO Luca de Meo was in China for a week long visit.

Persons: Gonzalo Fuentes, carmaker, CICC, Luca de Meo, Gilles Guillaume, Brenda Goh, Roxanne Liu, Tassilo Hummel, Marine Strauss, Louise Heavens Organizations: Renault, Viva Technology, Porte de, REUTERS, Rights, carmaker Renault, Renault Group, Reuters, Thomson Locations: Porte, Paris, France, CICC, China, Shanghai, Beijing

One of them said that the cut off point could be closer to 6 billion euros ($6.33 billion). Some analysts had already questioned Renault's hoped-for valuation of up to 10 billion euros, with some suggesting the carmaker should pursue alternative options to raise cash. De Meo said in September that the listing could value Ampere at between 8 and 10 billion euros, above the French carmaker's own current market capitalisation of 9.55 billion euros. Other EV makers have seen their market value fall sharply in recent months. The Ampere IPO would include a mix of Renault's shares and new shares and could happen as early as April 2024, one of the people said, depending on market conditions.

Persons: Gonzalo Fuentes, Ampere, France's, Tesla, Renault's, Luca de Meo, China's Geely, IPOs, De Meo, Bernstein, de Meo, Elon Musk's Tesla, Mathieu Rosemain, Silvia Aloisi, Pablo Mayo Cerqueiro, Gilles Guillaume, Anousha Sakoui, Alexander Smith Organizations: Renault, Viva Technology, Porte de, REUTERS, Reuters, DKV Mobility, HK, Saudi Arabia's Aramco, Nissan, IPOs Renault, EV, Commission, UBS, Barclays, Ampere, Mitsubishi, Thomson Locations: Porte, Paris, France, LONDON, China, Saudi, Europe, Ampere, Elon

☆ Renault sales up 7.6% thanks to higher prices but forex weighs
▼ + stars: | 2023-10-19 | by ( Gilles Guillaume | ) www.reuters.com time to read: +2 min

A logo of Renault is seen on a car during the French carmaker Renault's 2022 annual results presentation in Boulogne-Billancourt, near Paris, Feburary 16, 2023. Revenues came in at 10.51 billion euros ($11.07 billion), a touch above an analyst consensus forecast of 10.46 billion euros distributed by the company. Like other European carmakers it is facing strong competition in the EV market from Tesla (TSLA.O) and cheaper Chinese models. Renault confirmed its targets for 2023, adding it now expected a group operating margin closer to 8% for the year from a previous 7-8% forecast. ($1 = 0.9497 euros)Reporting by Gilles Guillaume, editing by Silvia AloisiOur Standards: The Thomson Reuters Trust Principles.

Persons: Christian Hartmann, carmaker, Ampere, Gilles Guillaume, Silvia Aloisi Organizations: Renault, REUTERS, Companies Renault SA, Tesla, carmaker Renault, Turkish, Thomson Locations: Boulogne, Billancourt, Paris, Turkey, Argentina

☆ European shares drop as dismal earnings add to risk-off mood
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Staff Acquire Licensing RightsOct 19 (Reuters) - European shares tumbled nearly 1% on Thursday as a raft of dismal corporate earnings including from packaged food giant Nestle worsened an already risk-averse mood, driven by jitters around the Middle East war and uncertainty over interest rates. The pan-European STOXX 600 (.STOXX) was down 0.8% by 0705 GMT, hitting an over one-week low. Shares of Nestle (NESN.S) dropped nearly 2% after the Swiss consumer giant posted lower-than-expected nine-month sales growth on Thursday as higher product prices made shoppers balk. French carmaker Renault (RENA.PA) shed 4.6% as the pace of sales growth slowed due to currency depreciations. Nokia (NOKIA.HE) lost 1.8% as the Finnish telecom gear group announced plans to slash jobs after posting a drop in its third-quarter sales.

Persons: jitters, Jerome Powell, French carmaker, Amruta Khandekar, Sherry Jacob, Phillips Organizations: REUTERS, Staff, Nestle, U.S, Treasury, Federal, French carmaker Renault, Nokia, Netflix, Thomson Locations: Frankfurt, Germany, Israel, Swiss, French, Tesla

☆ Renault ends common purchasing agreement with Nissan and Mitsubishi
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +1 min

The logos of car manufacturers Renault and Nissan are seen in front of dealerships of the companies in Le Coteau, France, July 13, 2023. Renault and Nissan finalised at the end of July the terms of a restructured alliance after months of negotiations. Talks dragged on months longer than expected due in part to Nissan, which was concerned about protecting its intellectual property in future collaborations. The July agreement freed both companies to focus on the more pressing problem of navigating the fast-changing industry landscape. Reporting by Dominique Vidalon;additional reporting by Gilles Guillaume Editing by Sudip Kar-Gupta and Mark PotterOur Standards: The Thomson Reuters Trust Principles.

Persons: Gonzalo Fuentes, carmaker, Dominique Vidalon, Gilles Guillaume, Sudip Kar, Gupta, Mark Potter Organizations: Renault, Nissan, REUTERS, Rights, carmaker Renault, Mitsubishi, Thomson Locations: Le Coteau, France, China

IMPORTED ASSEMBLY KITSAfter a chaotic decade following the collapse of the Soviet Union in 1991, Russia encouraged Western carmakers to build factories. "Undoubtedly, the expansion of Chinese carmakers on the Russian market will continue," said Andrey Olkhovsky, the head of dealership chain Avtodom. It is a radical change of fortunes for Chinese carmakers in Russia. Production of Chinese vehicles only began in Russia in 2019 with the arrival of Chinese automotive company Great Wall Motor (601633.SS). LESS LOCAL INPUTUnder the partnership with Chinese firms, less of the production at former Western factories is currently conducted in Russia, the sources said.

Persons: Jetour, Maxim Shemetov, Moscow's, Sergei Sobyanin, French carmaker, JAC, Sehol, Moskvich, capitalising, Vladimir Bespalov, Vladimir Putin, Andrey Olkhovsky, Olkhovsky, Wall, Sollers, Avtovaz, Denis Manturov, Gleb Stolyarov, Alexander Marrow, Zhang Yan, Daniel Flynn Organizations: REUTERS, French, French carmaker Renault, Moscow Automobile Factory, JAC Motors, Reuters, Renault, Nissan, Russia's Industry, Trade Ministry, Wall, Chery, Geely, HK, Argo, Ford Transit, Nissan's St, Lada, China's FAW Group's, FAW, Western, Trade, Thomson Locations: Lyubertsy, Moscow Region, Russia, Soviet, Moscow, Anhui, Ukraine, Soviet Union, Western, Tula, Autostat, Tatarstan, Nissan's, Nissan's St Petersburg, St Petersburg, Leningrad, Japan, Europe, China, Shanghai

☆ Renault names Luca de Meo as new head of Ampere electric vehicle unit
▼ + stars: | 2023-06-19 | by ( ) www.reuters.com time to read: 1 min

PARIS, June 19 (Reuters) - French carmaker Renault (RENA.PA) appointed on Monday its group chief executive Luca de Meo as the future chairman and CEO of Ampere, the electric vehicle division which Renault is aiming to list on the stock market. Renault added that its board of directors had also set up an ad-hoc committee, chaired by Jean-Dominique Senard, to oversee the envisaged initial public offering (IPO) of Ampere. Reporting by Sudip Kar-Gupta; Editing by Alison WilliamsOur Standards: The Thomson Reuters Trust Principles.

Persons: carmaker, Luca de Meo, Ampere, Jean, Dominique Senard, Sudip Kar, Alison Williams Organizations: carmaker Renault, Renault, Thomson

LONDON, May 17 (Reuters) - Planisware is working with investment bankers on strategic options, including a stock market listing of the French software group, four people familiar with the matter told Reuters. Rothschild (ROTH.PA) is acting as financial adviser to Planisware, two of the people, who declined to be named, said. BNP Paribas (BNPP.PA) and Citigroup (C.N) have been lined up to arrange a possible initial public offering (IPO), one person added. Private equity group Ardian, which holds an undisclosed stake in Planisware through its growth capital arm, declined to comment. In France, IPO volumes plunged in 2022 to levels similar to the first year of the COVID-19 pandemic.

☆ Renault chooses banks for planned listing of electric car unit Ampere - source
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: +1 min

PARIS, April 20 (Reuters) - French carmaker Renault (RENA.PA) has picked BNP Paribas (BNPP.PA), Goldman Sachs (GS.N) and JPMorgan (JPM.N) among the investment banks slated to work on the planned listing of its electric car business, Ampere, a source close to the matter said on Thursday. The three banks will act as joint global coordinators on the initial public offering (IPO) of Ampere, the source said. Renault aims to list Ampere in Paris this year, depending on market conditions. Renault's management has not yet given a valuation for the unit, saying it was up to the market to do so. Renault declined to comment on the names or roles of the banks picked for the planned listing.

☆ Renault reviewing prices worldwide after Tesla cuts
▼ + stars: | 2023-04-17 | by ( Gilles Guillaume | ) www.reuters.com time to read: +3 min

SummarySummary Companies Renault brand sales up 9% in first quarterStrong sales of electric Megane - brand CEOTesla price cuts step up competitionPARIS, April 17 (Reuters) - French carmaker Renault (RENA.PA) is reviewing its pricing policies of electric cars worldwide to ensure it stays competitive after a wave of price cuts by U.S. rival Tesla Inc (TSLA.O), a top executive said on Monday. Cambolive said the rebound had extended into April, adding however that Tesla's price cuts were a wake-up call for competitors. After last week's price cut by Tesla, the Tesla Model 3 in France starts at 41,990 euros, compared with 42,000 euros for the Megane electric. Worldwide sales for the Renault brand reached 354,545 vehicles in the first three months of the year. Sales for the Renault brand, which represents two-thirds of the group's total, fell by 9.4% last year, their fourth consecutive annual decline.

☆ Nissan says it and Renault are confident alliance deal will be sealed soon
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: 1 min

[1/2] A logo of Renault is seen on a car during the French carmaker Renault's 2022 annual results presentation in Boulogne-Billancourt, near Paris, Feburary 16, 2023. REUTERS/Christian HartmannTOKYO, March 31 (Reuters) - Nissan (7201.T) and Renault (RENA.PA) are working well together to sign a final agreement about the reshaping of their alliance and are confident that a deal will be reached soon, Nissan said in a statement on Friday. The company was responding to an earlier report by Japanese news agency Jiji which said that the final contract on the reboot of the alliance may be delayed until after April due to extended discussion on electric vehicles and intellectual property. Reporting by Daniel Leussink and Gilles Guillaume, editing by Silvia AloisiOur Standards: The Thomson Reuters Trust Principles.

☆ Mitsubishi Motors to electrify 100% of its fleet by 2035 - Yomiuri
▼ + stars: | 2023-03-10 | by ( ) www.reuters.com time to read: +1 min

TOKYO, March 10 (Reuters) - Japanese carmaker Mitsubishi Motors Corp (7211.T) plans to electrify 100% of its fleet by 2035 through active introduction of hybrid and electric vehicles (EV), the Yomiuri Shimbun daily said on Friday. Mitsubishi is a junior member of the partnership of French carmaker Renault SA (RENA.PA) and Nissan Motor Co (7201.T), which last month announced a deal to redesign their alliance. Mitsubishi had previously said it would have 50% of its fleet electrified by 2030, a goal the Yomiuri said would remain unchanged, with emphasis then being on pushing forward with electrification over the next five years. Mitsubishi also plans on introducing EVs in Europe, it added, saying the company would make an announcement about its plans soon. The company, which is scheduled to hold a news conference later on Friday, declined to comment when asked about the report.

☆ Renault swings back to losses on Russia exit, offers dividend
▼ + stars: | 2023-02-16 | by ( ) www.reuters.com time to read: +2 min

The group share of net income saw a 338 million euro loss, sharply down from an 888 million euro profit in 2021 but broadly in line with an analyst consensus provided by the company that saw a 310 million euro loss. It said a dividend of 0.25 euros per share will be proposed to the vote of the annual general meeting on May 11. Renault sold its majority stake in Avtovaz (AVAZI_p.MM) to the Russian state for reportedly just one rouble last year, but with a six-year option to buy it back. Under a deal announced earlier this month, Renault, will cut its stake in Nissan to 15% from 43% now, in a reboot of their long and sometimes contentious alliance. The agreement, which came after months of tense talks, will also see Nissan buy a stake of up to 15% in Renault's electric vehicle unit Ampere.

☆ Nissan's 2022 contribution to Renault results highest in four years
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +1 min

PARIS, Feb 9 (Reuters) - French carmaker Renault (RENA.PA), which is revamping its 24-year old alliance with Nissan (7201.T), said on Thursday the Japanese firm contributed 174 million euros ($187 million) to its own results in the fourth quarter. The total contribution for 2022 stood at 526 million euros, the highest amount since 2018 and up from 352 million euros in 2021. Renault, which under the overhaul of the partnership will cut its stake in Nissan to 15% from 43% now, will announce its own full-year results on Feb. 16. The stake that is being cut will be placed in a French trust, with Renault continuing to cash in on related dividends. ($1 = 0.9300 euros)Reporting by Gilles Guillaume; writing by Silvia Aloisi; Editing by Richard LoughOur Standards: The Thomson Reuters Trust Principles.

☆ Nissan board also approved planned restructuring deal with Renault - source
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: 1 min

PARIS, Feb 6 (Reuters) - The board of Nissan (7201.T) has also voted in favour of reshaping its alliance with French carmaker Renault (RENA.PA), a source said on Monday. The agreement, which will retool the two-decade-old alliance, had already got the backing from Renault's board on Sunday. It will be formally unveiled on Monday in London. Reporting by Gilles Guillaume and Dominique Vidalon; Editing by Sudip Kar-GuptaOur Standards: The Thomson Reuters Trust Principles.

☆ From boom to bottom and now big change: Renault and Nissan reshape alliance
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +5 min

It gave Nissan a 15% stake in Renault, on a par with the French state, but no voting rights. The alliance was thrown into turmoil following Ghosn's arrest on financial misconduct charges in late 2018 and his subsequent ouster as alliance chairman. 2002 Nissan announces its "Nissan 180" three-year plan, targeting an increase of 1 million vehicles in global sales by 2005. 2017 Both Nissan and Renault post record operating profits, though Nissan still falls short on some targets. Alliance Chairman Senard rules out any merger of the carmaking partners, saying they don't need to combine to be efficient.

☆ Renault offers workers 7.5% salary budget raise in 2023 -sources
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: 1 min

PARIS, Jan 26 (Reuters) - French carmaker Renault PA> is offering workers to increase its 2023 budget for salaries by 7.5% in 2023 to help cope with the rising cost of living, three sources familiar with the company's proposal said on Thursday. The budget increase would equate to a net salary increase of 110 euros per month for about two thirds of the workforce, the sources said. It would represent the biggest increase since 1992, the sources added. Reporting by Gilles Guillaume; Editing by Richard Lough and Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

☆ From boom to bottom and now big change: Renault and Nissan look to reshape alliance
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: +5 min

☆ Nissan-Renault deal on alliance could come as early as Feb. 1 - source
▼ + stars: | 2023-01-19 | by ( ) www.reuters.com time to read: +2 min

PARIS, Jan 19 (Reuters) - A deal between French carmaker Renault (RENA.PA) and Japanese partner Nissan (7201.T) could be announced as early as Feb. 1 as months of negotiations on how to reshape their alliance progress, a source familiar with the matter said on Thursday. The deal would see Renault cut its stake in Nissan to 15%, equalising the carmakers' holdings in each other, sources previously told Reuters. Renault has consistently declined to comment publicly about the timing of a possible deal announcement. The potential deal will be examined again by an alliance board meeting on Jan. 26 in Japan, which could be attended by de Meo and Renault Chairman Jean-Dominique Senard, the source said. The timetable could change, but both companies would prefer to make a formal announcement before the release of their annual results, scheduled for Feb. 9 for Nissan and Feb. 16 for Renault, the source said.

☆ Stellantis to build U.S. firm Archer's air taxi
▼ + stars: | 2023-01-04 | by ( Gilles Guillaume | ) www.reuters.com time to read: +2 min

PARIS, Jan 4 (Reuters) - Car maker Stellantis (STLA.MI) will help build Archer Aviation's (ACHR.N) electric aircraft Midnight eVTOL and increase its stake in the U.S. company, the two firms said on Wednesday. Industrial firms and new startups are flocking to invest in air taxis, which can take off and land vertically to ferry travellers to airports or on short trips between cities, allowing them to beat traffic. It is designed for back-to-back short distance trips of around 20 miles, with a charging time of approximately 10 minutes in-between. "The goal is for Stellantis to mass produce Archer’s eVTOL aircraft as its exclusive contract manufacturer," the companies said in a joint statement. Stellantis will also increase its existing stake in Archer through stock purchases in the open market.

☆ Carmaker Renault issues 210 bln yen bond
▼ + stars: | 2022-12-22 | by ( ) www.reuters.com time to read: +1 min

PARIS, Dec 22 (Reuters) - French carmaker Renault (RENA.PA) has issued a 210 billion yen ($1.6 billion) bond that will mature in December 2026 and carry a coupon of 2.80%, it said on Thursday, adding this highlighted its appeal to Japanese investors. "The final orderbook amounted to close to 300 billion yen, underlying the high confidence of Japanese retail investors in the Renault Group strategy as well as its ongoing transformation," Renault said. Earlier this month, Renault Chairman Jean-Dominique Senard, said he remained confident about the outcome of talks with its Japanese partner Nissan (7201.T). Renault wants Nissan to invest in a new electric-vehicle unit it plans to spin off as part of a major overhaul. Nissan wants Renault to sell some of its roughly 43% in the Japanese company to put the two carmakers on more equal footing, Reuters has previously reported.

☆ Exclusive: Chinese grab Russian car market share after Western rivals depart
▼ + stars: | 2022-12-08 | by ( Gleb Stolyarov | ) www.reuters.com time to read: +3 min

Reuters GraphicsRussia's new passenger car and LCV sales were 46,403 in November, the Association of European Businesses (AEB) said on Tuesday, and sales should reach around 600,000 for this year overall. "There is little production of Western car brands and few imports, so the market is divided between the Russian and Chinese car industries," Russian automotive analyst Vladimir Bespalov told Reuters. Russian cars satisfy demand at lower prices - up to about 1.5 million roubles ($23,961), and Chinese are also taking over the Western niche of prices above 2.5 million roubles. In one high-profile case, a Chinese car is masquerading as Russian one. In monetary terms, the share could surpass 40% of what he expects will be a 1.5-trillion-rouble market in 2023.

☆ Renault-Airbus partnership to develop new generation of electric batteries
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +1 min

[1/2] A model of Airbus A350-1000 jetliner is displayed at the China International Aviation and Aerospace Exhibition, or Airshow China, in Zhuhai, Guangdong province, China September 28, 2021. REUTERS/Aly Song/File PhotoPARIS, Nov 30 (Reuters) - European planemaker Airbus (AIR.PA) announced on Wednesday a partnership with French carmaker Renault (RENA.PA) to develop a new generation of electric batteries for cars and planes. Engineering teams from both companies will join forces to mature technologies related to energy storage, one of the main roadblocks for the development of long-range electric vehicles, Airbus said in a statement. "Aviation is an extremely demanding field in terms of both safety and energy consumption, and so is the car industry." The collaboration will focus on energy management optimisation and battery weight improvement while also studying the full life cycle of future batteries and assessing their carbon footprint.

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