According to foreign media reports, Renault plans to sell all of its Daimler shares, valued at approximately 1.2 billion euros. Intuitively, Renault's move is aimed at obtaining the necessary funds to reverse the record losses.

    Daimler has a 3.1% share in Renault and Nissan, while Renault and Nissan each have a 1.55% share in Daimler. According to people familiar with the matter, Renault has already gained enough prospective customers. Since this information is private, the person familiar with the matter asked not to be named.

    Renault said the move is aimed at accelerating the process of deleveraging in the automotive business. However, the company added that its industrial partnership with Daimler can be traced back more than ten years ago, and the current partnership between the two companies remains unchanged, and the transaction is not affected.

    Last month, Renault Group announced its financial statements for the 2020 fiscal year. The report shows that due to the global epidemic, the group's global sales in 2020 were 2.95 million vehicles, a decrease of 21.3% year-on-year. This directly led to a 21.7% decline in Renault's annual revenue to 43.5 billion euros. Renault warned investors that after recording a worse-than-expected annual net loss of 800 million euros, this year is another challenging year.

    On the other hand, Renault CEO Luca de Meo (Luca de Meo) is struggling to obtain enough semiconductors to maintain plant operations. Last month, he revealed to the media that Renault hopes that the impact of the shortage of semiconductor chips on Renault's production can be controlled within 100,000 vehicles. Luca de Mayo even warned that although the shortage of chip supply is expected to be eased in the second half of the year, this is a protracted battle that is likely to last until the end of this year. Judging from the current situation, this makes it even more difficult for Renault to try to get out of the plight since Carlos Ghosn was arrested.