Live Updates > Live Update Details
2025-12-12 18:00:44
[Renault Makes a Strategic U-Turn, Cutting "Future Businesses," 80 Jobs Lost] ⑴ French automaker Renault announced on Friday a major restructuring of its Mobilize division, which focuses on new transportation solutions, to concentrate investments on more profitable projects. ⑵ As part of the restructuring, Renault will close its Zity car-sharing service in Milan and Madrid and halt its Duo micro electric vehicle project, while significantly scaling back its fast-charging station network expansion plans. ⑶ Renault explicitly stated that it is discontinuing other businesses with "limited profit prospects or that do not directly serve the Group's strategic priorities." ⑷ This restructuring will result in the elimination of approximately 80 of the 450 positions in the Mobilize Beyond Automotive division, with the company prioritizing voluntary departures and internal transfers. ⑸ Under the new plan, Renault's charging network targets have been significantly lowered. The plan is to build 100 charging stations in France and over 100 in Italy by the end of 2026, far below the previous target of 650 charging stations across Europe by 2028. Planned projects in Belgium and Spain have been abandoned. (6) The head of Renault's energy business explained that this move was made against the backdrop of a challenging environment in the automotive industry and the company's need to adjust its capital allocation and finance multiple investments. (7) This move signifies a significant shift in Renault's strategic focus under the new CEO, moving from investing in the future mobility ecosystem to prioritizing core profitability and cash flow.
