diff --git a/addons/web/static/src/views/calendar/calendar_common/calendar_common_popover.xml b/addons/web/static/src/views/calendar/calendar_common/calendar_common_popover.xml
index 521422fce03..361a41d9484 100644
--- a/addons/web/static/src/views/calendar/calendar_common/calendar_common_popover.xml
+++ b/addons/web/static/src/views/calendar/calendar_common/calendar_common_popover.xml
@@ -44,7 +44,7 @@
             </li>
         </ul>
         <ul class="list-group list-group-flush o_cw_popover_fields_secondary">
-            <Record resModel="props.model.resModel" resId="props.record.id" fields="props.model.fields" activeFields="props.model.popoverFields" mode="'readonly'" initialValues="props.record.rawRecord" t-slot-scope="slot">
+            <Record resModel="props.model.resModel" resId="props.record.id" fields="props.model.fields" activeFields="props.model.popoverFields" mode="'readonly'" values="props.record.rawRecord" t-slot-scope="slot">
                 <t t-foreach="slot.record.fieldNames" t-as="fieldName" t-key="fieldName">
                     <t t-if="!slot.record.isInvisible(fieldName)">
                         <t t-set="fieldInfo" t-value="props.model.popoverFields[fieldName]" />
diff --git a/addons/web/static/src/views/record.js b/addons/web/static/src/views/record.js
index c46c9f4db2e..5d44b9f54b0 100644
--- a/addons/web/static/src/views/record.js
+++ b/addons/web/static/src/views/record.js
@@ -1,7 +1,6 @@
 /** @odoo-module **/
 
-import { useService } from "@web/core/utils/hooks";
-import { useModel } from "@web/views/model";
+import { useBus, useService } from "@web/core/utils/hooks";
 import { RelationalModel } from "@web/views/relational_model";
 import { Component, xml, onWillStart, onWillUpdateProps } from "@odoo/owl";
 
@@ -9,21 +8,44 @@ const defaultActiveField = { attrs: {}, options: {}, domain: "[]", string: "" };
 
 class _Record extends Component {
     setup() {
-        this.model = useModel(RelationalModel, {
-            resId: this.props.info.resId,
-            resModel: this.props.info.resModel,
+        const resModel = this.props.info.resModel;
+        const modelParams = {
+            resModel,
             fields: this.props.fields,
             viewMode: "form",
             rootType: "record",
             activeFields: this.getActiveFields(),
-            mode: this.props.info.mode === "edit" ? "edit" : undefined,
-            initialValues: this.props.info.initialValues,
-        });
-        onWillUpdateProps(async (nextProps) => {
-            await this.model.load({
-                resId: nextProps.info.resId,
-                mode: nextProps.info.mode,
-            });
+        };
+        const modelServices = Object.fromEntries(
+            RelationalModel.services.map((servName) => {
+                return [servName, useService(servName)];
+            })
+        );
+        if (resModel) {
+            modelServices.orm = useService("orm");
+        }
+
+        this.model = new RelationalModel(this.env, modelParams, modelServices);
+        useBus(this.model, "update", () => this.render(true));
+
+        let loadKey;
+        const load = (props) => {
+            const loadParams = {
+                resId: props.info.resId,
+                mode: props.info.mode,
+                values: props.values,
+            };
+            const nextLoadKey = JSON.stringify(loadParams);
+            if (loadKey === nextLoadKey) {
+                return;
+            }
+            loadKey = nextLoadKey;
+            return this.model.load(loadParams);
+        };
+        onWillStart(() => load(this.props));
+        onWillUpdateProps((nextProps) => {
+            // don't wait because the keeplast may make willUpdateProps hang forever
+            load(nextProps);
         });
 
         if (this.props.info.onRecordChanged) {
@@ -54,7 +76,7 @@ class _Record extends Component {
     }
 }
 _Record.template = xml`<t t-slot="default" record="model.root"/>`;
-_Record.props = ["slots", "info", "fields"];
+_Record.props = ["slots", "info", "fields", "values?"];
 
 export class Record extends Component {
     setup() {
@@ -73,16 +95,16 @@ export class Record extends Component {
         }
     }
 }
-Record.template = xml`<_Record fields="fields" slots="props.slots" info="props" />`;
+Record.template = xml`<_Record fields="fields" slots="props.slots" values="props.values" info="props" />`;
 Record.components = { _Record };
 Record.props = [
     "slots",
-    "resModel",
+    "resModel?",
     "fieldNames?",
     "activeFields?",
     "fields?",
     "resId?",
     "mode?",
-    "initialValues?",
+    "values?",
     "onRecordChanged?",
 ];
diff --git a/addons/web/static/src/views/relational_model.js b/addons/web/static/src/views/relational_model.js
index 355e302e0ec..a17539abfd7 100644
--- a/addons/web/static/src/views/relational_model.js
+++ b/addons/web/static/src/views/relational_model.js
@@ -273,7 +273,11 @@ class DataPoint {
 
         this.model = model;
         this.resModel = params.resModel;
-        this.fields = params.fields;
+        this.fields = {
+            id: { name: "id", type: "integer", readonly: true },
+            display_name: { name: "display_name", type: "char" },
+            ...params.fields,
+        };
         this.setActiveFields(params.activeFields);
 
         this.onWillSaveRecord = params.onWillSaveRecord || (() => {});
@@ -1105,7 +1109,6 @@ export class Record extends DataPoint {
         const activeField = this.activeFields[fieldName];
         const { fieldsToFetch, relatedFields = {}, views = {}, viewMode } = activeField;
         const fields = {
-            id: { name: "id", type: "integer", readonly: true },
             ...relatedFields,
             ...fieldsToFetch,
         };
@@ -3512,7 +3515,6 @@ export class RelationalModel extends Model {
             this.rootParams.expand = params.expand;
             this.rootParams.groupsLimit = params.groupsLimit;
         }
-        this.initialValues = params.initialValues;
 
         // this.db = Object.create(null);
         this.root = null;
@@ -3555,7 +3557,7 @@ export class RelationalModel extends Model {
             : this.initialRootState;
 
         const newRoot = this.createDataPoint(this.rootType, rootParams, state);
-        await this.keepLast.add(newRoot.load({ values: this.initialValues }));
+        await this.keepLast.add(newRoot.load({ values: params.values }));
         this.root = newRoot;
         this.rootParams = rootParams;
         this.notify();
diff --git a/addons/web/static/tests/views/fields/many2one_field_tests.js b/addons/web/static/tests/views/fields/many2one_field_tests.js
index edab16595e1..a001516ee6b 100644
--- a/addons/web/static/tests/views/fields/many2one_field_tests.js
+++ b/addons/web/static/tests/views/fields/many2one_field_tests.js
@@ -1606,7 +1606,7 @@ QUnit.module("Fields", (hooks) => {
         }
         Comp.components = { Record, Field };
         Comp.template = owl.xml`
-            <Record resModel="'coucou'" fields="fields" fieldNames="['partner_id']" initialValues="values" mode="'edit'" t-slot-scope="scope">
+            <Record resModel="'coucou'" fields="fields" fieldNames="['partner_id']" values="values" mode="'edit'" t-slot-scope="scope">
                 <Field name="'partner_id'" record="scope.record" canOpen="false" />
             </Record>
         `;
@@ -3251,10 +3251,7 @@ QUnit.module("Fields", (hooks) => {
         await click(target, ".o_field_widget[name=trululu] input");
         await selectDropdownItem(target, "trululu", "Create and edit...");
 
-        assert.strictEqual(
-            target.querySelector(".o_field_widget[name=foo] input").value,
-            "yz"
-        );
+        assert.strictEqual(target.querySelector(".o_field_widget[name=foo] input").value, "yz");
 
         await clickDiscard(target.querySelector(".modal"));
     });
diff --git a/addons/web/static/tests/views/record_tests.js b/addons/web/static/tests/views/record_tests.js
index a9dad462d48..648655b26f6 100644
--- a/addons/web/static/tests/views/record_tests.js
+++ b/addons/web/static/tests/views/record_tests.js
@@ -7,7 +7,9 @@ import { click, getFixture, mount } from "../helpers/utils";
 import { setupViewRegistries } from "../views/helpers";
 
 import { Component, xml, useState } from "@odoo/owl";
-import { editInput } from "@web/../tests/helpers/utils";
+import { editInput, nextTick, patchWithCleanup } from "@web/../tests/helpers/utils";
+import { Many2OneField } from "@web/views/fields/many2one/many2one_field";
+import { AutoComplete } from "@web/core/autocomplete/autocomplete";
 
 let serverData;
 let target;
@@ -168,7 +170,7 @@ QUnit.module("Record Component", (hooks) => {
         }
         Parent.components = { Record, Field };
         Parent.template = xml`
-            <Record resModel="'partner'" fieldNames="['foo']" fields="fields" initialValues="values" t-slot-scope="data">
+            <Record resModel="'partner'" fieldNames="['foo']" fields="fields" values="values" t-slot-scope="data">
                 <Field name="'foo'" record="data.record"/>
             </Record>
         `;
@@ -212,7 +214,7 @@ QUnit.module("Record Component", (hooks) => {
         }
         Parent.components = { Record, Field };
         Parent.template = xml`
-            <Record resModel="'partner'" fieldNames="['foo']" fields="fields" initialValues="values" t-slot-scope="data" onRecordChanged.bind="onRecordChanged">
+            <Record resModel="'partner'" fieldNames="['foo']" fields="fields" values="values" t-slot-scope="data" onRecordChanged.bind="onRecordChanged">
                 <Field name="'foo'" record="data.record"/>
             </Record>
         `;
@@ -230,4 +232,170 @@ QUnit.module("Record Component", (hooks) => {
         assert.verifySteps(["record changed"]);
         assert.strictEqual(target.querySelector("[name='foo'] input").value, "753");
     });
+
+    QUnit.test("handles many2one fields", async function (assert) {
+        patchWithCleanup(AutoComplete, {
+            timeout: 0,
+        });
+
+        serverData.models = {
+            bar: {
+                records: [
+                    { id: 1, display_name: "bar1" },
+                    { id: 3, display_name: "abc" },
+                ],
+            },
+        };
+
+        class Parent extends Component {
+            setup() {
+                this.fields = {
+                    foo: {
+                        name: "foo",
+                        type: "many2one",
+                        relation: "bar",
+                    },
+                };
+                this.values = {
+                    foo: [1, undefined],
+                };
+            }
+
+            onRecordChanged(record, changes) {
+                assert.step("record changed");
+                assert.deepEqual(changes, { foo: 3 });
+                assert.deepEqual(record.data, { foo: [3, "abc"] });
+            }
+        }
+        Parent.components = { Record, Many2OneField };
+        Parent.template = xml`
+            <Record resModel="'partner'" fieldNames="['foo']" fields="fields" values="values" t-slot-scope="data" onRecordChanged.bind="onRecordChanged">
+                <Many2OneField name="'foo'" record="data.record" relation="'bar'" value="data.record.data.foo" update="(value) => data.record.update({ foo: value })"/>
+            </Record>
+        `;
+
+        await mount(Parent, target, {
+            env: await makeTestEnv({
+                serverData,
+                mockRPC(route, args) {
+                    assert.step(route);
+                },
+            }),
+        });
+        assert.verifySteps(["/web/dataset/call_kw/bar/name_get"]);
+        assert.strictEqual(target.querySelector(".o_field_many2one_selection input").value, "bar1");
+        await editInput(target, ".o_field_many2one_selection input", "abc");
+        assert.verifySteps(["/web/dataset/call_kw/bar/name_search"]);
+        await click(target.querySelectorAll(".o-autocomplete--dropdown-item a")[0]);
+        assert.verifySteps(["record changed"]);
+        assert.strictEqual(target.querySelector(".o_field_many2one_selection input").value, "abc");
+    });
+
+    QUnit.test(
+        "supports passing dynamic values -- full control to the user of Record",
+        async (assert) => {
+            class Parent extends Component {
+                setup() {
+                    this.fields = {
+                        foo: {
+                            name: "foo",
+                            type: "char",
+                        },
+                        bar: {
+                            name: "bar",
+                            type: "boolean",
+                        },
+                    };
+                    this.values = owl.useState({
+                        foo: "abc",
+                        bar: true,
+                    });
+                }
+
+                onRecordChanged(record, changes) {
+                    assert.step("record changed");
+                    assert.strictEqual(record.model.constructor.name, "RelationalModel");
+                    assert.deepEqual(changes, { foo: "753" });
+                    this.values.foo = "357";
+                }
+            }
+            Parent.components = { Record, Field };
+            Parent.template = xml`
+            <Record resModel="'partner'" fieldNames="['foo']" fields="fields" values="{ foo: values.foo }" t-slot-scope="data" onRecordChanged.bind="onRecordChanged">
+                <Field name="'foo'" record="data.record"/>
+            </Record>
+        `;
+
+            await mount(Parent, target, {
+                env: await makeTestEnv({
+                    serverData,
+                    mockRPC(route) {
+                        assert.step(route);
+                    },
+                }),
+            });
+            assert.strictEqual(target.querySelector("[name='foo'] input").value, "abc");
+            await editInput(target, "[name='foo'] input", "753");
+            assert.verifySteps(["record changed"]);
+            await nextTick();
+            assert.strictEqual(target.querySelector("[name='foo'] input").value, "357");
+        }
+    );
+
+    QUnit.test("can switch records", async (assert) => {
+        class Parent extends Component {
+            setup() {
+                this.fields = {
+                    foo: {
+                        name: "foo",
+                        type: "char",
+                    },
+                    bar: {
+                        name: "bar",
+                        type: "boolean",
+                    },
+                };
+                this.state = useState({ currentId: 1, num: 0 });
+            }
+
+            next() {
+                this.state.currentId = 5;
+                this.state.num++;
+            }
+        }
+        Parent.components = { Record, Field };
+        Parent.template = xml`
+            <a id="increment" t-on-click="() => state.num++" t-esc="state.num" />
+            <a id="next" t-on-click="next">NEXT</a>
+            <Record resId="state.currentId" resModel="'partner'" fieldNames="['foo']" fields="fields" t-slot-scope="data">
+                <Field name="'foo'" record="data.record"/>
+            </Record>
+        `;
+
+        await mount(Parent, target, {
+            env: await makeTestEnv({
+                serverData,
+                mockRPC(route, args) {
+                    assert.step(`${args.method} : ${JSON.stringify(args.args)}`);
+                },
+            }),
+        });
+
+        assert.verifySteps([`read : [[1],["foo"]]`]);
+        const increment = target.querySelector("#increment");
+        const field = target.querySelector("div[name='foo']");
+        assert.strictEqual(increment.textContent, "0");
+        assert.strictEqual(field.textContent, "yop");
+
+        await click(increment);
+        // No reload when a render from upstream comes
+        assert.verifySteps([]);
+        assert.strictEqual(increment.textContent, "1");
+        assert.strictEqual(field.textContent, "yop");
+
+        await click(target.querySelector("#next"));
+        assert.verifySteps([`read : [[5],["foo"]]`]);
+        assert.strictEqual(increment.textContent, "2");
+        assert.strictEqual(field.textContent, "blop");
+    });
 });