Renault Group Pulls Plans to Float its EV and Software Unit, Ampere

Renault Group has decided to the cancel the initial public offering (IPO) process for its EV and software unit, Ampere. Renault says it considers that the current equity market conditions are not met to optimally pursue the IPO process in the best interests of the company, its shareholders and Ampere.

It will continue to fund the development of the unit until Ampere reaches breakeven in 2025. 

Ampere's main focus is on drastically reduce EV cost by 40% in one generation.

Since November 1^st, 2023, Ampere has operated as an autonomous business.

Renault has major upcoming launches with Scenic, Renault 5, Renault 4, Twingo and 2 additional cars.

Luca de Meo, CEO Renault Group & CEO Ampere, says: "I’m extremely proud of our teams who created in less than 2 years the best answer to top global players competition with Ampere. By setting up a 100% focused EV and software business, we built in record time an agile and competitive entity. We have the start-up mindset which allows us to constantly innovate. This is exactly what will make Ampere successful in this new challenging environment. Today, we took a pragmatic decision. We are all focused on executing our strategy and building our track record to create value for all our stakeholders.” 

Renault Group's Ampere is the only European EV and software pure player.