23 Jan '11, 4pm

Renault spies 'leaked electric car strategy'

Renault spies 'leaked electric car strategy'

PARIS: Alleged spying at French car maker Renault targeted its business strategy for electric cars rather than technological secrets, its chief executive said in an interview published on Sunday. "We have come to the conclusion that what got out was not technological information. It could be information on our economic model," the company's boss Carlos Ghosn was quoted as saying by French weekly Le Journal du Dimanche. "What was targeted was our strategy for the electric cars," he added in the interview, saying that Renault was the only company making all three key elements for the electric car - batteries, motors and chargers. Renault and its Japanese partner Nissan have staked their future on electric vehicles and plan to launch several models by 2014 to meet rapidly rising demand for more environmentally friendly methods of transport. They have invested four billion eur...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

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