Renault chief executive Luca de Meo, pictured at the opening day of the Paris Motor Show last month. Photograph: Nathan Laine/BloombergRenault aims to raise operating profit margins to 10 per cent by the end of the decade as the French carmaker sets out plans to reinstate dividends next year and spin out its electric vehicle unit through a stock market listing.
The targets on Tuesday include producing €2 billion of cash a year from next year, rising to €3 billion in 2026, and growing margins to 8 per cent by 2025, rising to 10 per cent by 2030. The French group is looking to build on its turnaround plan after losses in 2019 and 2020 and to repair its strained relationship with Japanese partner Nissan, as it races to compete with rivals pushing into EVs.READ MORE