The rail reform passed in 2018 has profoundly transformed the rail landscape, with the arrival of competition in passenger rail transport and new players. The SNCF Group's strategy has thus been guided by the opening up to competition and by a transformation that is taking place in a quadruple context of urgency: environmental, territorial, economic and social. It is also part of our ambition to develop new markets, satisfy our customers and improve our environmental impact. An ambition carried out at the heart of the French Regions. Every day, the Rolling Stock Division develops industrial and engineering solutions for the rolling stock of today and tomorrow, confirming its strategic position at the heart of the rail industry.