The Renault Mécanique Roumanie plant, which produces engines and transmissions, will be part of the "Horse" division under the new organisation of the Renault group and will be shared between Renault and the Chinese from Geely, Ziarul Financiar announced quoting Luca de Meo, CEO of the Renault Group.

Renault pitched investors on November 8 on its planned green revamp with two spin-offs: a new electric-vehicle unit (flagship division Ampere) and a subsidiary for thermal and hybrid assets (Horse).

Renault's sales of internal combustion vehicles are falling. In the first nine months of 2022, hybrid and electric vehicles represented 38% of the brand's registrations in Europe, a year-on-year increase of 12%.

However, Renault's CEO outlined big plans for the Romanian plant and the Dacia brand.

"Horse will be able to be a supplier not only for the Renault Group, but will also be able to deliver to other companies. The Horse division will have eight clients worldwide, including Renault, Geely, Dacia, Nissan or Proton. This way, we will double the volumes delivered", said Luca de Meo, CEO of the Renault Group.

Regarding the Dacia brand, he said two more compact models would be launched after the Bigster (expanded SUV model).

"Dacia is the golden nugget of the Renault Group. [...] its [profit] margin will increase from 10% to 15%," he added.

andrei@romania-insider.com

(Photo source: Media.dacia.com)