Tuesday, November 8, with the presentation of the third – and final stage – of the “Renaulution”, its strategic plan for Renault, Luca de Meo, the general manager of the car manufacturer, poses a nice mathematical problem: the sum of the parts can be she do more than all? This is the opposite of what Aristotle said. But the boss doesn’t care. He is convinced that by now organizing Renault into five entities, and by opening up some of them to outside shareholders, they will achieve a total value significantly higher than that of the group on the stock market today.
At the close of the markets, Monday, November 7, the diamond brand was worth 9.3 billion euros, much less than Stellantis (44 billion), Volkswagen (53.5 billion) and, above all, Tesla (627 billion euros). ). However, these amounts reflect the means available to manufacturers to invest and cope with the transition of the automotive market to electric. It is therefore necessary to take off those of Renault.
The first entity, Ampère, will bring together all activities in electric vehicles and software. With its 10,000 employees, it aims to go public, on Euronext, from 2023. But before that, its capital will be open to a strategic partner, the American manufacturer of microprocessors Qualcomm, which develops Snapdragon chips, and wants to increase the calculation capacity of the on-board computer of electric cars.
Incidentally, Renault is strengthening its partnership with Google and its Android system. By equipping its cars in this way, it will improve predictive maintenance and develop insurance based on use and driving behavior. The software system of an electric car must be able to be updated regularly, like that of a telephone, to improve and add functionalities and, above all, to manage the battery well.
Nissan and Mitsubishi also plan to enter the capital of Ampère, which could be worth, according to estimates circulating internally, 10 billion euros, more than the value of Renault today. ” When I arrived, explains Luca de Meo, I asked what share Renault held in the electric vehicle value chain. I was told only 10%, when we were pioneers. Today, the group already captures 35%, and with Ampère, we want to go up to 80%. » The group’s French sites will mainly work for this entity.
A high-end brand and a bank
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