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.

 

Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com

 

(END) Dow Jones Newswires

October 09, 2019 03:52 ET (07:52 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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