Groupe Renault - 2020 Universal Registration Document
01
OVERVIEW OF RENAULT AND THE GROUP GROUPE RENAULT
Renault Finance A Swiss company domiciled in Lausanne, Renault Finance is active in the international financial markets, following a set of strict risk management rules. Its arbitrage activity allows it to obtain very competitive quotes for financial products from foreign exchange markets, interest rates or raw materials. This makes it Renault’s natural counterparty for most automotive market transactions. By extending this service to the Nissan group, Renault Finance has become the Alliance’s trading room. To optimize the quality of the service provided to the Alliance, Renault Finance is equipped with some of the most advanced tools on the interbank markets and has a wholly owned subsidiary in Singapore, Renault Treasury Services. Nissan Renault’s shareholding in Nissan is described in detail in section 1.2 “The Renault-Nissan-Mitsubishi alliance”. Nissan’s market capitalization at December 31, 2020 was ¥2,364 billion (€18,686 million), based on a closing price of ¥560 per Nissan share. Renault holds 43.4% of Nissan’s share capital. At December 31, 2020, the market value of the shares held by Renault totaled €8,110 million, based on a conversion rate of ¥126.49 for €1. Renault accounts for its shareholding in Nissan using the equity method, as described in Chapter 4, note 12 of the notes to the consolidated financial statements. AVTOVAZ In Russia, AVTOVAZ, the Russian market leader, continued its recovery in 2020, despite the impact of the COVID-19 crisis on the Russian automotive market and exports. For the fourth consecutive year, AVTOVAZ made a positive contribution to Groupe Renault’s results with market share in Russia increasing to 21.5% and an operating margin of €141 million, i.e. 5.5% of revenues. These results are the fruit of the mid-term plan approved by AVTOVAZ shareholders in 2016, which aims to achieve a return to growth and profitability. In 2020, AVTOVAZ was able to offset less favorable market conditions and exchange rates thanks to the in-depth restructuring of the company undertaken in recent years, which focused on reducing costs by increasing local integration, boosting exports and developing product ranges in anticipation of the launch of a new product plan validated by shareholders at the end of 2020. In 2020, AVTOVAZ finalized the integration of the activities of its subsidiary LADA West resulting from the purchase at the end of 2019 of GM’s share of the GM-AVTOVAZ joint venture. That enabled AVTOVAZ to take over the right to use the NIVA trademark, which will be extended to future LADA models intended to revive the brand. At the end of December 2019, Renault’s stake in Alliance Rostec Auto B.V. was 67.61%, with Alliance Rostec Auto B.V. holding 100% of the capital of AVTOVAZ, which was transformed into a private company in 2019. Nissan, AVTOVAZ, partnerships and 1.1.3.8 cooperations
Strategic cooperation between the Renault-Nissan alliance and Daimler AG See paragraph “Cooperation with Daimler” in section 1.2.4. Autonomous vehicles In June 2019, Groupe Renault and Nissan signed an exclusive Alliance agreement with Waymo for the study of autonomous mobility services for people and goods in France and Japan. This agreement pools the three partners’ strengths and extends their expertise through the assessment of market opportunities and joint research work on commercial, legal and regulatory issues related to autonomous mobility service offers in France and Japan. Their international dimension and the complementary fit of their offers, covering every segment of light commercial vehicles and passenger cars, perfectly position Groupe Renault and Nissan to undertake this exploratory work with Waymo, a company specializing in driverless technologies with more than 32 million kilometers on roads under its belt. New mobilities and services For five years, Groupe Renault has been committed to the development of new shared mobility services (Renault Mobility, Zity in Madrid and Paris since May 2020, in partnership with the Ferrovial group), and has made targeted acquisitions and equity investments in various start-ups in the field (Karhoo, iCabbi, two new acquisitions (Mobile Knowledge in Canada and Original Software in Brazil), Glide). The World Mobility department, assisted by Renault M.A.I. (Mobility as an Industry), was able to accelerate synergies, simplify the decision-making chain, clarify existing offers and create new ones, prior to the launch of Mobilize in 2021, which will bring together all services (financial with RCI Bank, Energy, Mobility). In conjunction with various partners, Groupe Renault develops and offers its customers energy-related services so that they can enjoy the full benefits of their electric vehicles. In 2020, for instance, Renault created Elexent to offer its professional customers tailor-made recharging solutions, which are gradually being rolled out with local partners in Europe. In France, Renault has joined forces with Solstyce, a company specializing in the design and installation of charging solutions. Since 2017, Renault has also been partnering with Jedlix, a Dutch technology startup with which Renault has developed an intelligent mobile charging app for the smart charging of electric vehicles, guaranteeing users carbon-free electricity and savings on their energy bills. This service, already operational in the Netherlands and France, is now to be rolled out in other European countries. In France (Tokai1) and Germany (Tokai2), Renault is developing an original and innovative solution called Advanced Battery Storage. Operational in Douai and Elverlingsen, it consists in using electric vehicle batteries before their use in vehicles in order to maximize the sites' self-consumption of renewable energy and stabilize the electricity grid while improving battery warranty costs. The Mobility House, Caisse des Dépôts et Consignations, Demeter and Mitsui are partners in this project. Also noteworthy is the creation in 2013 of tech company Gireve, which has developed an interoperability platform for charging infrastructure operators to facilitate roaming for electric vehicle drivers. Gireve acts as a contractual, technical and operational interface between the various systems. Renault, CNR, Caisse des Dépôts, EDF, Enedis and Demeter are partners.
50 GROUPE RENAULT I UNIVERSAL REGISTRATION DOCUMENT 2020
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