Streetbeat News

RNLSY

Renault S.A.

https://group.renault.com/

CEO

Luca de Meo

Industry

Automobile Manufacturing

Open

8.66

Mkt cap

12B

Volume

11K

High

8.66

P/E Ratio

8.06

52-wk high

11.72

Low

8.62

Div yield

0.05

52-wk low

7.25

Volkswagen AG (OTC:VWAGY) is in preliminary talks with Renault SA (OTC:RNSDF, OTC:RNLSY) to develop an affordable electric vehicle (EV) priced around €20,000. The discussions are at an early stage and may not result in a partnership. The goal is to produce 200,000-250,000 vehicles annually. Renault confirms ongoing talks for cooperation in the small-entry EV segment. European automakers are competing with lower-priced Chinese models, with the average EV price in Europe at over €65,000, compared to €31,000 in China. Renault launched a new electric Twingo model, and Volkswagen plans to launch an EV for about €25,000 by 2025. VWAGY shares are up 0.19% at $13.35.

Portfolio Pulse from Shivani Kumaresan

December 08, 2023 | 5:59 pm

Cyclone Michaung has disrupted manufacturing operations in Chennai, affecting suppliers to major tech companies like Apple, Dell, and Nokia. While most companies have resumed production, the cyclone's impact could have short-term implications for these companies' supply chains. Apple's suppliers Foxconn, Salcomp, Luxshare, and Pegatron, as well as Dell, Nokia, and Cisco, which have significant operations in the area, are particularly noteworthy. Google's expansion plans with Alphabet CEO Sundar Pichai's discussions and partnership with HP for Chromebook manufacturing in India are also highlighted.

Portfolio Pulse from Surbhi Jain

December 08, 2023 | 2:00 pm

Renault SA has reduced its stake in Nissan Motor Co., Ltd. from 43.4% to 15%, transferring the remaining 28.4% shares into a French trust. Renault and Nissan now have a cross-shareholding of 15% with lock-up and standstill obligations. Renault continues to benefit from the economic rights from the entrusted Nissan shares until they are sold. Mitsubishi Motors is also a member of the Alliance with Renault and Nissan Motor. The alliance will continue to identify key projects across markets.

Portfolio Pulse from Nabaparna Bhattacharya

November 08, 2023 | 12:27 pm

Mitsubishi Motors plans to invest up to €200 million in Renault's EV unit Ampere. This investment is part of Mitsubishi's mid-term management plan focusing on electric vehicle development. The company is also intensifying collaboration with Alliance members Renault and Nissan as part of their commitment to the electrification acceleration phase. Mitsubishi Motors aims to improve its EV development technology and expand its EV line-up through this initiative.

Portfolio Pulse from Nabaparna Bhattacharya

October 24, 2023 | 12:43 pm

Renault SA (OTC:RNSDF) (OTC:RNLSY), Volvo (OTC:VLVLY), and CMA CGM are partnering to produce a new generation of fully electric vans. Renault and Volvo have signed binding agreements to launch a new company with 50-50 equity stakes. The companies plan to invest €300 million each over the next three years. CMA CGM Group will join the new company, investing EUR 120 million through PULSE. The new company is expected to start operations in 2024 and start production in 2026.

Portfolio Pulse from Shivani Kumaresan

October 06, 2023 | 10:42 am

Renault Group and Volvo Group are partnering to create a new company focused on the development of a new generation of electrified vans. The companies anticipate CMA CGM Group joining the new venture. They will continue to seek additional investment and business partners.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 7:24 am

The European Commission is considering imposing tariffs on Chinese electric vehicle (EV) imports, which could benefit European automakers like Renault SA and Stellantis N.V. due to reduced competition. However, German automakers like BMW AG, Mercedes-Benz Group AG, and Porsche Automobile Holding SE could face risks due to their exposure to the Chinese market. Chinese EV makers like BYD Co. Ltd., NIO Inc., and Li Group Inc. could also be negatively impacted.

Portfolio Pulse from Piero Cingari

September 13, 2023 | 8:01 pm

Renault's CEO Luca de Meo has indicated that the company's new electric vehicle division, Ampere, could reach a valuation of up to $10.75 billion in an IPO expected in the first half of 2024. The exact pricing is yet to be confirmed. Nissan, as part of its restructured alliance with Renault, has committed to invest up to €600 million in Ampere. Renault's shares (RNLSY) closed lower by 6.7% to $7.52 on Friday.

Portfolio Pulse from Nabaparna Bhattacharya

September 05, 2023 | 10:54 am

Renault SA is planning to list its electric vehicle business unit, Ampere, on the stock market in spring 2024. The automaker is targeting November 1 of this year for Ampere to be separated from the rest of the company. As part of a restructured alliance with Nissan Motor Co Ltd, Nissan has committed to invest up to Є600 million in Ampere.

Portfolio Pulse from Shivani Kumaresan

August 28, 2023 | 11:57 am

Microsoft and Activision Blizzard have extended their $69 billion takeover deal to October 18, with increased termination fees. Microsoft also announced Bing Chat Enterprise and Microsoft 365 Copilot pricing. Goldman Sachs' Q2 profits fell 60% due to tepid M&A activity. Carvana reported a Q2 sales decline of 23.6% but beat consensus estimates. General Motors anticipates increased EV production in H2. Johnson & Johnson has joined a legal battle against the US government over drug pricing negotiation. Spain has penalized Amazon and Apple for conspiring to limit competition in device sales.

Portfolio Pulse from Vandana Singh

July 19, 2023 | 2:10 pm

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