Renault audits show strong potential for separating electric unit

LONDON (Reuters) – Internal audits at Renault have shown strong potential for the French carmaker’s plans to separate its electric vehicle unit from its traditional fossil-fuel car operations, chief executive Luca de Meo said on Wednesday.

Speaking at the company’s annual general meeting, executives said that Renault still expects to fully repay the remainder of a 3 billion euro ($3.20 billion) loan backed by the French state, Renault’s biggest shareholder, by end of 2023.

($1 = 0.9366 euros)

(Reporting By Nick Carey. Editing by Jane Merriman)