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Renault Prepares for Carveouts of EV, Fossil-Fuel Businesses

  • French carmaker says they could employ roughly 20,000 by 2023
  • Executive from Japanese partner Nissan doesn’t commit to plan
A Renault Megane eVision electric vehicle.

A Renault Megane eVision electric vehicle.

Photographer: Benjamin Girette/Bloomberg
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Renault SA outlined a plan to carve out separate electric-vehicle and combustion-engine businesses, providing details of the possible overhaul just before meetings with its Japanese partners. 

In a layout of the project first raised in February, the French automaker said the revamp could take effect by next year. Shares rose 1.4% in early Paris trading on Friday.