It will employ 19,000 people across Europe, China and South America, and have 17 factories and five research and development centres. Turnover for the division is expected to grow by four percent by 2027, the group said. "We are designing an agile and innovative organisation to manage the volatility and accelerated technological evolution of our time," said Renault chief executive Luca de Meo. The group aims to see an operating margin — a key profitability yardstick — of above eight percent in 2025. Shares in Renault were down 2.6 percent in afternoon trading on the Paris stock exchange.