<p>French automaker Renault will pitch investors Tuesday on its planned green revamp, with two spin-offs: a new electric-vehicle unit and a subsidiary for thermal and hybrid assets.</p>.<p>The electric vehicle market is expected to grow rapidly in response to consumers' worries about climate change, putting pressure on manufacturers to develop less polluting products.</p>.<p>The European Union last month agreed to phase out new CO2-emitting vehicles by 2035, a move set to turbo-charge the production of electric prototypes on the continent.</p>.<p>At an investor day in Paris on Tuesday, Renault is expected to outline its green transformation.</p>.<p>The flagship division of the carmaker's reorganisation is Ampere, a split-off expected to employ around 10,000 staff in France and produce electric vehicles in the north.</p>.<p>Renault plans to invite investment in Ampere but would remain the majority shareholder.</p>.<p>Renault also intends to combine its technological, manufacturing, and research and development activities for its hybrid and internal-combustion vehicles in a subsidiary called "Horse". The subsidiary is expected to employ an estimated 19,000 people across Europe, China and South America.</p>.<p>Chinese car manufacturer Geely is being considered for a stake in the company.</p>.<p>"We are designing an agile and innovative organisation to manage the volatility and accelerated technological evolution of our time," said Renault CEO Luca de Meo.</p>.<p>Investors on Monday expressed their interest in Renault's transformation, with the group's shares climbing 3.77 per cent on the Paris stock market.</p>.<p>The company suffered a historic loss in 2020 and its recovery was destabilised by its withdrawal from Russia following Moscow's invasion of Ukraine.</p>.<p>The value of traditional car manufacturers pales in comparison to new players on the market specialising in electric vehicles such as Elon Musk's Tesla or Chinese firm BYD.</p>.<p>Renault still needs large investment to accelerate its electric transformation, according to plans it presented in 2020.</p>.<p>US giant Ford has taken similar steps, announcing the creation of the "Ford Model E" earlier this year.</p>.<p>Renault's sales of traditional internal-combustion vehicles are falling. In the first nine months of 2022, hybrid and electric vehicles represented 38 per cent of the brand's registrations in Europe, a year-on-year increase of 12 per cent.</p>.<p>The planned separation of Renault's electric and conventional production has concerned trade unions after several waves of job cuts.</p>
<p>French automaker Renault will pitch investors Tuesday on its planned green revamp, with two spin-offs: a new electric-vehicle unit and a subsidiary for thermal and hybrid assets.</p>.<p>The electric vehicle market is expected to grow rapidly in response to consumers' worries about climate change, putting pressure on manufacturers to develop less polluting products.</p>.<p>The European Union last month agreed to phase out new CO2-emitting vehicles by 2035, a move set to turbo-charge the production of electric prototypes on the continent.</p>.<p>At an investor day in Paris on Tuesday, Renault is expected to outline its green transformation.</p>.<p>The flagship division of the carmaker's reorganisation is Ampere, a split-off expected to employ around 10,000 staff in France and produce electric vehicles in the north.</p>.<p>Renault plans to invite investment in Ampere but would remain the majority shareholder.</p>.<p>Renault also intends to combine its technological, manufacturing, and research and development activities for its hybrid and internal-combustion vehicles in a subsidiary called "Horse". The subsidiary is expected to employ an estimated 19,000 people across Europe, China and South America.</p>.<p>Chinese car manufacturer Geely is being considered for a stake in the company.</p>.<p>"We are designing an agile and innovative organisation to manage the volatility and accelerated technological evolution of our time," said Renault CEO Luca de Meo.</p>.<p>Investors on Monday expressed their interest in Renault's transformation, with the group's shares climbing 3.77 per cent on the Paris stock market.</p>.<p>The company suffered a historic loss in 2020 and its recovery was destabilised by its withdrawal from Russia following Moscow's invasion of Ukraine.</p>.<p>The value of traditional car manufacturers pales in comparison to new players on the market specialising in electric vehicles such as Elon Musk's Tesla or Chinese firm BYD.</p>.<p>Renault still needs large investment to accelerate its electric transformation, according to plans it presented in 2020.</p>.<p>US giant Ford has taken similar steps, announcing the creation of the "Ford Model E" earlier this year.</p>.<p>Renault's sales of traditional internal-combustion vehicles are falling. In the first nine months of 2022, hybrid and electric vehicles represented 38 per cent of the brand's registrations in Europe, a year-on-year increase of 12 per cent.</p>.<p>The planned separation of Renault's electric and conventional production has concerned trade unions after several waves of job cuts.</p>