Renault Deepens Overhaul With New Car-Sharing Growth Targets
- Automaker rolls finance arm, leasing into Mobilize brand
- French firm also reaches deal with Geely for Korean stake sale
A Mobilize Bento electric car, produced by Renault SA.
Photographer: Nathan Laine/BloombergThis article is for subscribers only.
Renault SA set targets to expand its Mobilize car-sharing and leasing businesses as the struggling French automaker deepens its corporate overhaul.
The brand, which currently generates losses, is to achieve double-digit margins for each category of services outside of its finance arm by 2027, the French carmaker said Tuesday. Renault is sticking to its goal for Mobilize to make up a fifth of group revenue by the end of this decade, betting consumers will increasingly shun vehicle ownership.