Renault to split into 5 divisions, spin-off EV unit

French automaker Renault on Tuesday announced its plans to split its activities into five businesses. It'll spin-off its electric vehicles unit, codenamed Ampere, with a stock market listing. Further, its combustion-engines unit will be housed in a joint venture with Chinese rival Geely. Its other businesses will cover the Alpine sports car brand, financial services and new mobility products.