The Renault Mécanique Roumanie (Romania) plant in Craiova, which produces engines and transmissions, would be part of the Horse division under the new organisation of the Renault group and would be shared between Renault and Geely, Ziarul Financiar reported, quoting Renault Group CEO Luca de Meo, according to romania-insider.com.
Renault on 8 November told investors about its planned green revamp with two spin-offs: a new electric vehicle unit (Ampere) and a subsidiary for thermal and hybrid assets (Horse).
The reports said Renault’s sales of internal combustion vehicles were falling. In the first nine months of 2022, hybrid and electric vehicles accounted for 38% of the brand’s registrations in Europe, a year on year increase of 12%.
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 and Proton. This way, we will double the volumes delivered,” said de Meo.
He added two more Dacia 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 said.