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In an official press conference held this morning, Renault announced its financial results for 2021. The French company returned to profitability last year and also announced several new electric vehicles for the next three years. It seems the automaker is running like a well-oiled machine, but its former CEO Carlos Ghosn sees things very differently. He recently gave an interview to Le Parisien in which he continues his harsh critique of the current operations of the Renault-Nissan-Mitsubishi Alliance.
Renault currently holds a 43 percent stake in Renault, while the Japanese company holds 15 percent of the French company. Ghosn has always been vocal for closer ties between the two automakers, but Nissan executives remain conservative about the potential for deeper connections. The 67-year-old Brazilian-born Lebanese entrepreneur said in a recent interview that Renault is now just a shadow of its past.
“The truth is, the world’s No.1 manufacturer has become a small and fragile manufacturer,” Ghosn told Le Parisien, which was brought to our attention by Automotive News. “It saddens me to see that Renault is just a shadow of its former self.” He also said a recent comment from Renault management that the automaker’s problems stemmed from the “race for volume” was “indecent. They could have come up with something a little more subtle,” added Ghosn.
Ghosn is also highly critical of Renault’s current CEO, Luca de Meo, who is betting on a “value over volume” strategy. He stressed that he wasn’t too happy with the way brand strategy evolved over time, as “strategy is only 5 percent, while actions and results are 95 percent.”
As a result of his flight from Japan to Lebanon, Ghosn lost a lot of money, he told the publication. “Compared to most Lebanese, I have nothing to complain about. However, I have lost most of what I saved.”
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