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Renault “relatively confident” for 2022 despite some chip supply worries -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: A presentation at Aubervilliers in France of the new Renault Megane E-Tech100 Electric car took place ahead 2021 Munich Motor Show. It was presented on September 2, 2021. Picture taken September 2, 2021. REUTERS/Eric Gaillard

GUYANCOURT(France) (Reuters] Renault said Thursday that while it is confident about the business year, there are still some concerns over supplies of chips. These problems will likely be felt most in the first quarter 2022.

“We’re relatively optimistic for 2022, but we also know it’s volatile and uncertain,” CEO Luca de Meo said to journalists during a company event. He added that restructuring efforts at the automaker were ahead of schedule.

In shares Renault (PA): The PA index edged higher after Wednesday’s publication of the comments at midday. It traded 3.9 percent higher at 1231 GMT. This was ahead of France’s bluechip index, which fell 0.55%.

Renault’s finance chief stated at the event that Renault would like to repay the French state’s $34 billion loan.

It also stated that it will increase its ambitions for e-mobility and shift its Renault core brand to e-mobility. The goal is to create a 100 % electric fleet by 2030. This compares with the 90% originally announced.

($1 = 0.8724 euros)

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