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Renault splits into 5 businesses in drive to boost profit

  PARIS — French car maker Renault announced a major overhaul that will see it separate its activities in five businesses, deepen ties with China's Geely and spin off its electric vehicles unit through a stock market listing next year. At a long-awaited investor presentation on Tuesday, Renault said it targeted operating margins of 8% for 2025 and rising to more than 10% in 2030, from 5% expected this year. It also plans to reinstate dividends from 2023 after a three-year hiatus, and generate more than 2 billion euros of cash annually between 2023-25, growing to more than 3 billion euros in the following five years. An early mover in the electric car race, Renault has fallen behind newer, more agile rivals like Tesla. After needing emergency state cash during the COVID pandemic, the group is looking to extend on a turnaround following losses in 2019 and 2020, and increase the valuation of its different parts. But big question marks remain on its strained relationship with long-standing Japanese partner Nissan, as Renault looks for other outside investors for each of its divisions. The main plank of the car maker's strategy is separating its combustion engine business — which will partner with Geely in a 50-50 joint venture, also announced on Tuesday — from its electric vehicle unit, to be listed in the second half of next year. Nissan is expected to take a stake in the EV venture, codenamed "Ampere," alongside other investors, though Renault will keep a majority stake. Talks with Nissan have been dragging on, amid Japanese reservations about sharing technology with others, including a Chinese rival like Geely, sources have told Reuters. Shares in Renault fell 2% by 1254 GMT after earlier dipping more than 4% as it gave little detail on the state of play of the discussions with Nissan on the future of their partnership. Renault CEO Luca De Meo said the group wanted to give the alliance a strong future and a "new chance." But he also said that — as in a marriage — "it is important for us to have our own hobbies and our own life." The companies had initially set a Nov. 15 target to reach a deal, but no announcement is now expected on that date, according to people familiar with the talks. Aside from the Ampere EV unit and the combustion engine division, Renault will have an additional three businesses — the Alpine sports-car brand, financial services and new mobility and recycling activities.

Automakers can, and do, use your private information however they want

The first paragraph of Mozilla’s *Privacy Not Included" buyerÂ’s guide about car privacy issues is worth repeating here: “Ah, the wind in your hair, the open road ahead, and not a care in the world Â… except all the trackers, cameras, microphones, and sensors capturing your every move. Ugh. Modern cars are a privacy nightmare.” “Ugh” may be an understatement. The crux of the matter is control: The nonprofit Mozilla Foundation has found that vehicle manufacturers have collected tons of “private” data from vehicle operators, thanks to the proliferation of sensors and cameras and smartphones connected in and to cars. In its report, Mozilla found that 25 car brands all failed the consumer privacy tests it carried out. Its research found that 84 percent of car companies review, share or sell data collected from car owners, and that the information was used for reasons unrelated to the operation of a vehicle or to a car brandÂ’s relationship with its owners. And beyond that, the report says that many companies — more than half — “say they can share your information with the government or law enforcement in response to a 'request.' Not a high bar court order, but something as easy as an 'informal request.'” Some other points made by the foundation: — Six car companies can collect intimate information, including a driverÂ’s medical information and genetic information. Plus info about how fast a person drives and the songs he listens to in the car. — Nissan earned its second-to-last spot (Tesla, not surprisingly, was worst) “for collecting some of the creepiest categories of data we have ever seen": In an apparent attack of full disclosure, Nissan said that it can share “inferences” drawn from the data to create profiles “reflecting the consumerÂ’s preferences, characteristics, psychological trends, predispositions, behavior, attitudes, intelligence, abilities, and aptitudes.” It also collects information about “sexual activity.” It's not clear how they can do that, but in their privacy notice they say they could. Not to be outdone, the report says, “Kia also mentions they can collect information about your 'sex life' in their privacy policy.” — Only two of the 25 brands reviewed, Renault and Dacia, stated that drivers had the right to delete their personal data. The brands are headquartered in Europe, where consumers are protected by General Data Protection Regulation privacy laws.

What does a world-class downhill skateboarder drive? Something very cool

Kevin Reimer has an interesting career and a fascinating car. The resident of Vancouver, BC is a professional downhill skateboarder - which we now know is a thing you can be - who sees a lot of commonality between his extreme occupation and his cherry 1991 Nissan Skyline GT-R.
The subjects of the latest Petrolicious joint, Racing Champions, Reimer waxes philosophical about skateboarding and driving down some of the same routes. You'll not be surprised to hear that riding the curves of a mountain slope, be it on a deck or in a bucket seat, both rely on grip and nerve in various measure. Scroll down to see for yourself, and don't miss the rest of our Petrolicious library when you're done.