TU-TESL

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"Renault will find it difficult to achieve sales rebound in the near future, so it will develop new business partners to sell cars and parts." "Renault is currently reviewing all of its businesses, including formula one, which it has been involved in for a long time," Clotilde delbos, Renault's interim CEO, told analysts Renault's interim CEO, Claude delbose, has learned that the review is expected to be completed in a few months. Renault's investors want the company to move out of the uncertain moment as soon as possible and eliminate the negative effects of its alliance chairman Carlos Ghosn's arrest last year. In November last year, Ghosn was arrested in Japan after being accused of infringing the financial commodities trading act on suspicion of underreporting directors' remuneration. As a result, Renault suffered a series of setbacks. Affected by this, the relationship between Renault and Nissan has become precarious, and the high-level of both sides have continued to be turbulent. Earlier this month, Nissan appointed Makoto Uchida, 53, head of China, as its chief executive, working with Ashwani Gupta, a former Renault executive and new chief operating officer. A few days later, Renault's management also changed abruptly. The company dismissed its chief executive, Thierry bollore, and announced that budelbose would take over temporarily. As interim CEO, delboss began to comprehensively evaluate the "drive the future" strategy launched by Ghosn in 2017. It seems that the Renault Nissan alliance is trying to get rid of the influence of the ghorn era, and this strategy may change in the future. Among Renault's many businesses, "F1 racing is a 'pet' project of Ghosn, which costs Renault millions of dollars every year." "The assessment of the business is not targeted, so the business will be put on the table at some time," Mr. delbose said. However, "it's still too early to put forward our future route now, and we need to continue to improve," delbose stressed. "We have put forward many ideas, and it's estimated that all the results will be announced soon.". In response to the short-term decline in performance, Renault said it was actively looking for new business partners to expand sales of cars and parts. Recently, Renault's third quarter results came out. In the third quarter, sales fell 4.4% and revenue fell 1.6% to 11.3 billion euros, according to data. In response, Renault said it was affected by the decline in production of Nissan and Daimler, as well as the decline in demand of business partners for diesel engines. It is understood that Renault has been using its plants to manufacture vehicles for Nissan and Daimler, as well as diesel engines for other automakers. At present, the slowdown in automobile sales of partners has a chain reaction to the company's revenue, while the demand for diesel engines in Europe is also declining. Renault, which owns 43.4% of Nissan, will also review the merger with FCA. Previously, the FCA withdrew its plan to merge Renault with Fiat Chrysler without the support of Nissan and the French government, which owns 15% of Renault. However, on October 22, Jean Dominique senard, Renault's chairman, revealed that "although no possible deal has yet been concluded with FCA, it is not excluded that it will be reviewed at some stage in the future."