Group 1: Leadership Change - Renault Group appointed Francois Provost as CEO, effective July 31, 2025, succeeding Luca de Meo, marking the beginning of the "Provost Era" [1] - Provost has extensive experience in the Chinese market, having served as COO for Renault's China and Asia-Pacific operations since 2016 [1] - His role in the partnership with Geely and the establishment of the joint venture Horse Power Technology highlights his strategic importance [1][9] Group 2: Financial Performance - In the first half of 2025, Renault reported revenues of €27.64 billion, a 2.5% increase year-on-year, with automotive revenue at €24.49 billion, up 0.5% [3] - Global sales reached 1.17 million units, a 1.3% increase, with electric vehicles accounting for 44% of sales [3] - However, operating profit fell to €1.653 billion, with a profit margin of 6.0%, down from 8.1% the previous year [3][6] Group 3: Market Challenges - The European automotive market faced a significant decline, with new car sales dropping 7.3% in June 2025 [4] - Renault's growth was primarily driven by hybrid and electric vehicles, as traditional fuel vehicle demand continued to decline [4] - High costs associated with the transition to electric vehicles pose a challenge, with the company needing substantial investment and time to see returns [4][5] Group 4: Strategic Initiatives - Renault aims to launch over 65% electric and electrified products by 2025, with a target of 90% by 2030 [5] - The establishment of the "Ampere China Development Center" in Shanghai is a key milestone for Renault's strategy in China, focusing on product development and innovation [8] - Collaboration with Geely and the introduction of Saudi Aramco as a strategic partner are part of Renault's efforts to enhance its global competitiveness [9][10] Group 5: Future Outlook - Provost's leadership is expected to leverage his experience in China to navigate market challenges and drive Renault's transformation [2][10] - The company plans to maintain a flexible business model to meet diverse market demands and aims to introduce several new models in the coming years [7] - Renault's focus on integrating Chinese innovations into its global strategy is seen as crucial for overcoming current growth bottlenecks [10]