Renault exits car-sharing, scales back EV charging as it puts profits first in tough market

Renault RENA.PA is shutting down car‑sharing services and slowing the rollout of fast‑charging stations at its Mobilize unit, which focuses on new transport solutions, as it seeks to funnel investments into more profitable ventures.

As part of the reorganization, the French automaker will also reintegrate energy and data activities into the main group, it said on Friday.

The overhaul will cut about 80 of the roughly 450 positions at the Mobilize Beyond Automotive division. Renault will favour voluntary departures and internal personnel moves, a company spokesperson said.

"Other activities ... with limited profitability prospects or that do not directly serve the group's strategic priorities are being discontinued," Renault said in a statement, mentioning Zity car-sharing schemes in Milan and Madrid and the micro electric car Duo.

Created in 2021 by then-CEO Luca de Meo, Mobilize was designed to explore new mobility solutions beyond Renault’s traditional business of making and selling cars, such as car-sharing, charging services for electric vehicles and user data management.

But François Provost, who became Renault's chief executive at the end of July, decided after a review that heavy investment in rapid-charging infrastructure was no longer a priority amid tight capital allocation and industry challenges.

"We are in a context of adjusting Renault's capital allocation, the auto industry is in a difficult environment, and we have many investments to finance," Jérôme Faton, head of Energy at Mobilize, told Reuters.

Renault will scale back its charging network ambitions, targeting 100 stations in France and more than 100 in Italy by the end of 2026, far below the previously stated goal of 650 charging stations across Europe by 2028. Planned projects in Belgium and Spain have been abandoned.