Page 2 - Renault

Renault's CEO search includes insider Le Vot, Stellantis' Picat: Analysts

Renault shares fell as much as 8 per cent on Monday, their biggest one-day percentage drop since February 2022, as investors worried about the company's future without de Meo at the helm

Renault CEO Luca de Meo quits, likely to become head of Gucci-owner Kering

De Meo's unexpected departure marks the second top-level exit from a European carmaker in six months, after Carlos Tavares resigned from Stellantis

We intend to more than double our business in India: L'Oreal CEO

Cosmetics major L'Oreal on Monday said it plans to more than double its business in India over the next couple of years besides expanding its factories. L'Oreal CEO Nicolas Hieronimus also said India is a key strategic market for them and it is one of the world's fastest-growing beauty markets. "India is a very strategic market for L'Oreal. We intend to more than double our business in the next couple of years , expand our factories which are today manufacturing 95 per cent of what we sell in India and also exporting to rest of the region. "So it is a country of opportunities and one of the fastest beauty markets in the world and is a big priority for L'Oreal," he told reporters here. He met Commerce and Industry Minister Piyush Goyal, who is here on an official visit to hold meetings with French leadership and firms to boost trade and investment between the two countries. "We are exporting hair and skin products, particularly to the Gulf region, it is a beginning of a big ...

Renault Group seeks CCI nod to buy out remaining 51% stake in Indian JV

French auto major Renault group has sought approval from fair trade regulator CCI to buy out its Japanese partner Nissan's remaining 51 per cent stake in their Indian manufacturing joint venture -- Renault Nissan Automotive India Pvt Ltd. Renault Group B V and its nominee Renault SAS have proposed to acquire the entire shareholding of the Nissan entities in Renault Nissan Automotive India Pvt Ltd (RNAIPL). "The proposed combination relates to the acquisition of equity shares and fully paid-up zero-coupon non-convertible redeemable preference shares held by Nissan Motor Company Ltd Japan and Nissan Overseas Investments B V in the target (RNAIPL) by acquirer 1 (Renault Group B V) and its nominee, acquirer 2 (Renault SAS)," a notice filed with the Competition Commission of India (CCI) said on May 16. Renault Group B V is engaged in the designing and manufacturing of passenger cars and light commercial vehicles worldwide and Renault SAS is engaged in the construction, maintenance and ..

Will bring five new products within next 2 years: Renault India MD & CEO

Renault India chief Venkatram Mamillapalle outlines growth plans, including five new launches, higher exports, and a renewed focus on EVs

Renault Group to take over Nissan Motor's 51% stake in Chennai plant

The transaction, pending regulatory approvals, is expected to close by the end of the first half of 2025. Nissan asserted that it has no plans to exit India

Renault, Nissan further loosen ties to support Japanese firm's turnaround

Nissan will also be released from its commitment to invest in Renault's electric vehicle unit Ampere, for which it had pledged 600 million euros

Renault India to hike prices of entire model range by up to 2% from April

Automaker Renault India on Thursday said it will increase prices of its entire model range by up to 2 per cent from April. The extent of the increase will vary for different variants and models, the company said in a statement. The decision comes in response to the constantly increasing input costs that the company has been absorbing for a significant period, it added. "Despite our best efforts to maintain prices for a long time, the sustained increase in input costs has necessitated this price adjustment," Renault India Country CEO and MD Venkatram Mamillapalle said. The company has been absorbing these costs for a long time to support customers, but to continue providing the best quality and innovative products, a price revision has become inevitable, he added. This is the first price hike announced by Renault India since Feb 2023, the automaker noted. Various carmakers, including Maruti Suzuki, Hyundai, Tata Motors, Kia India and Honda Cars, have already announced plans to hik

Renault beats profit forecast in 2024, warns on EU emissions rules

The company, one of the few in the sector to have maintained its targets last year, reported operating profit of 4.3 billion euros ($4.49 billion), up 3.5 per cent on the previous year

Hon Hai offers Renault a lifeline, says open to buying its stake in Nissan

The company, known also as Foxconn, had adopted a wait-and-see attitude while Honda and Nissan worked out a plan to integrate their businesses

Renault 2024 sales volume grows 1.3% with 2.26 mn vehicles, most hybrids

Sales growth, however, slowed sharply from the 9 per cent rise recorded in 2023, as the global auto sector faced a challenging year with inflation weighing on consumer appetite

Renault's big plans: Facelifts for Kiger & Triber, Duster to return in 2026

French automaker Renault is set to refresh its lineup with mid-life updates, marking a change after a four-year gap from introducing new models or major upgrades

Nissan reassigns CFO Ma to China head in management reshuffle: Report

Nissan said last month its half-year net earnings were down more than 90 per cent from the same period last year and cut its annual operating profit forecast by about 70 per cent

Renault Nissan Chennai unit crosses 4.5 mn powertrain production milestone

The plant has the capacity to produce engines ranging from 800cc to 1500cc

Renault posts forecast-beating 1.8% rise in Q3 sales amidst strong demand

Revenues came in at 10.7 billion euros ($11.55 billion), up 1.8 per cent from a year earlier and beating an analysts' consensus forecast of 10.35 billion euros provided by the company

No plans to phase out Kwid until rules allow: Renault India MD & CEO

We are very quickly going to announce the timeline of our launches, which should start giving us the turnaround, MD and CEO Venkatram Mamillapalle

Plan to launch six products under alliance with Nissan on track: Renault

The plan to roll out six new products, including two electric vehicles under the Franco-Japanese automotive alliance Renault Nissan, at a total outlay of Rs 5,300 crore has been progressing and is on schedule, a top official of French car major Renault India said on Wednesday. Renault-Nissan, in February 2023, had announced investments of USD 600 million (about Rs 5,300 crore) in India, to bring in six new products, including two electric cars, and an upgradation of their Chennai plant. Renault India Country CEO and Managing Director Venkatram Mamillapalle at an event said on Wednesday that about 70-80 per cent of the total committed investments have been invested so far. "We have announced investments of Rs 5,300 crore to introduce six new products. It (the project) is on schedule. You will be hearing from us hereafter, very soon (on the launch of new models)," he said. Mamillapalle was speaking to reporters after unveiling a new range of "Night and Day Limited Edition" variants .

Renault's first-half sales rises on strong demand for hybrids in Europe

The company sold 1,154,700 vehicles globally compared to 1,133,478 units last year, with almost three-quarters of that volume going to Europe

Automakers Volkswagen, Renault end talks to develop affordable EV: Report

VW sources said a decision on the EV plan is expected within weeks. Thomas Schaefer, CEO of the Volkswagen brand, has said he wants to launch a lower-priced EV by 2027

Renault Q1 sales lifted by financing arm, 2024 profit rises 2% at $12.5 bn

The Renault group sold 549,099 units during the first quarter, up 2.6% from the same period in 2023