Renault cutting 2,000 French jobs, hiring 2,500 EV positions in electrification shift

  • Renault (OTC:RNSDF) will cut 2,000 engineering and support roles while hiring 2,500 experts in data science, battery chemistry, and other positions as it shifts its operations to focus on manufacturing electric vehicles. The company wants to make nine new vehicles in at home by 2025, primarily at northern France factory.
  • The automaker posted a profit in its first half after a record loss lost year, but is recovering slower than rivals due to a greater reliance on the European market, which is taking time more time to lessen pandemic restrictions.
  • The French state is the largest shareholder of Renault , which last year cut 14,600 jobs worldwide.
  • A few months ago, Renault signed a deal with Envision and Verkor to produce electric car batteries at its hub in northern France.

    For this year the company, located in Boulogne-Billancourt revenue will be around 48.3 billion euros. This is according to the average of the analysts' estimates. This is quite more than 2021's revenue of 43.47 billion euros.

    Historical revenues and results Renault plus estimates 2021

    fundamantele data

    The analysts expect for 2021 a net profit of 564 million euros. The majority of the analysts expects for this year a profit per share of 2.14 euros. The price/earnings-ratio is then 13.14.

    For this year analysts don't expect the company to pay a dividend. The average dividend yield of the automobile producers equals a good 2.78 percent.

    Most recent target prices around 47 euros

    Sanford C. Bernstein & Co, Barclays and HSBC recently provided recommendations for the stock.

    Renault 's market capitalization is based on the number of outstanding shares around 8.19 billion euros. 35

    At 17.29 the stock trades 0.39 percent higher at 28.13 euros.

    Historical stock prices Renault

    stock analysis renault

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