Back in the black, Renault looks to tap into electric boom

FILE PHOTO: A woman holds a cable to charge up a Renault Kangoo ZE electric utility vehicle at a Renault automobile dealership in Cagnes-Sur-Mer, France, October 22, 2020. Picture taken October 22, 2020. REUTERS/Eric Gaillard/File Photo

PARIS (Reuters) - Renault is looking at creating separate divisions for electric and combustion engine cars, an idea other automakers have resisted in case it weakens their ability to use profits from polluting vehicles to fund a cleaner future.

The French automaker announced its "strategic studies" on Friday as it reported an annual profit for the first time in three years and said its turnaround plan was ahead of schedule.