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By Carlo Martuscelli
French car maker Renault SA (RNO.FR) said Wednesday that it is creating a new operating subsidiary called RENAULT M.A.I. to consolidate its mobility-services offering.
The company said that over the past four years it has developed its car services through a number of ventures, which include Renault MOBILITY, Zity, Moov'in.Paris and Marcel. It has also made a number of acquisitions and investments in startups in the field, such as Karhoo, Yuso, Como and others.
The aim of the new subsidiary is to bring its mobility activities into a single unit in order to create synergies, as well as simplify decision making, Renault said.
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(END) Dow Jones Newswires
October 09, 2019 03:52 ET (07:52 GMT)
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