Renault chief Luca de Meo wants to press ahead with plans to create separate divisions for electric (EV) and combustion engine vehicles despite potentially costly uncertainty over its interests in Russia, three sources told Reuters.
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Playing catch-up with rivals like Tesla and Volkswagen, the French automaker first outlined its strategy shift in February, days before Russia's invasion of Ukraine, saying its turnaround plan was ahead of schedule.
An internal assessment on progress will be made in three months, two of the sources said. The Renault group's top selling EVs are the Dacia Spring and the Renault Zoe - long a market leader but becoming an ageing model.
"Despite the Russian x-factor, Luca de Meo wants to move quickly on the creation of the two entities," one of the sources told Reuters.
Several working groups are actively working on the creation of two separate legal structures, codenamed "Ampere" for the electric and "Horse" for the thermal and hybrid assets, two of the three sources said.
Renault declined to comment.
The war in Ukraine has resulted in Western powers imposing extensive sanctions against Russia, leaving Renault, majority owner of Russia's biggest carmaker Avtovaz, faced with what de Meo has called a "very complex situation."