PARIS — Renault stated that “all choices are on the desk” for separating its electric-vehicle enterprise, together with a attainable public itemizing within the second half of 2023.

Thierry Pieton, Renault’s finance chief, stated that any plans had been topic to approval from its alliance associate Nissan, however made clear that the Japanese automaker “is within the loop” because it weighs up its choices.

Renault has been pushing forward with plans to separate its EV and combustion engine companies because it seeks to meet up with rivals similar to Tesla and Volkswagen Group.

Renault shares briefly spiked as a lot as 5 p.c after Bloomberg reported that Renault could think about decreasing its stake in Nissan as a part of its plans to separate its EV enterprise. Renault declined to touch upon the report. Nissan sassist: “We don’t touch upon hypothesis.“

Ford stated final month that it’ll run its EV enterprise individually from its legacy combustion engine operations.

On Friday, Renault posted better-than-expected income for the primary quarter, as greater costs and rising EV gross sales largely offset the impression of the struggle in Ukraine and an ongoing international scarcity of semiconductors.

Renault stated it’s “making progress” in negotiating the way forward for its Russian unit AvtoVAZ after saying final month that it was assessing the way forward for the automaker, by which it holds a 68 p.c stake.