Renault Group is splitting into five separate businesses in a major overhaul that will position it for future challenges and opportunities while driving profitability.

The new Ampere business will be responsible for EVs and software

In the third ‘Revolution’ prong of its Renaulution plan, the carmaker will pivot to address five different units, spanning electric vehicles and software, new mobility services, its Alpine sports car brand, financial services and ICE and hybrid vehicles.

The plans include the spin-off of its EV business into a new division, dubbed Ampere and due for a public listing from H2 2023 onwards. The group will keep a “strong majority” in the business and is hoping to score the support of potential strategic cornerstone investors, including Qualcomm Technologies.

It will also team up with Geely for the ‘Horse Project’, creating a leading powertrain technology company that will be owned 50-50 and draw on technological, manufacturing and R&D assets from both. This will explore both low-emission ICE and hybrid vehicles for use by the Renault, Dacia and Renault LCV brands.

The Alpine name will be hived off as a high-end zero-emission global brand with a racing pedigree, and planned for global expansion with half of its future growth outside of Europe.

Its Mobilize business will continue to be focused as a leading financial services company, covering electric vehicles, plus energy and data-based services.

The group will also set up the first 360° circular economy company in the automotive industry from closed loop in materials to battery recycling.

It’s also announced partnerships with Google and Qualcomm Technologies to create “game-changing technologies” that will enable the development of Software-Defined Vehicle (SDV) including Centralized Electronic Architecture and Car OS.

Luca de Meo, CEO, said: “Today’s announcements are a new sign of Renault Group team’s determination to prepare the company for the future challenges and opportunities generated by the transformation of our industry. After having executed one of the fastest and unexpected recovery plans, after having prepared the company for growth by securing the development of the best product line-up in decades, we intend to position ourselves faster and stronger than competition on the new automotive value chains: EV, software, new mobility and circular economy.”