Italian-born Luca de Meo found success at Fiat Chrysler Automobiles, where he helped launch the reborn Fiat 500, and then at Volkswagen Group, where he led Spanish brand Seat to record sales and launched the Cupra performance subbrand. He faces a much bigger challenge as CEO of Renault Group, which has struggled since 2018 with declining sales and profits amid a contentious relationship with its Japanese partner Nissan. De Meo spoke with Automotive News Europe Associate Publisher and Editor Luca Ciferri and News Editor Peter Sigal about his strategy to revive Renault.
You have described your plan to relaunch Renault -- "Renaulution" -- as a sort of symphony in three acts. You have a resurrection, a renovation and then a revolution. How will this work?
I should clarify. We need to start all three phases right now. But the degree of intensity, density or granularity of the project will increase. We will take a little bit more time on a revolution project than on a resurrection project, for example. For the resurrection, I need to ensure that the cash is there, that we are immediately increasing our margins. On the other hand, if I invest in mobility services, I assume that the money, hopefully, will come one day, but I still need to invest now in platforms, in organization, in software, etc. It's like I have a water pump in one hand to fight the fire, and on the other hand I have a pencil to draw a beautiful future.
What is the time frame for resurrection?
I would say by early 2023.