The French car manufacturer Renault intends to list its Ampere electric vehicle division on the stock exchange next spring. In preparation for this, the division should be split off from the rest of the company on November 1st, Renault boss Luca de Meo (56) said on Monday to the French news channel BFM TV. “So we’re splitting and then we’ll see if we have the right terms to go public,” he said. The likely time window for an IPO is spring 2024.
Originally, Renault had targeted an IPO in the second half of 2023. Ampere was a central part of the reorganization of the alliance between Renault and the Japanese carmaker Nissan, which the partners had agreed on in July. Accordingly, Nissan is investing up to 600 million euros in the electric car division and, as an investor, will have a seat on the board of directors of the new company.
Increasing demand for electric cars
Despite the ongoing economic downturn, Renault expects higher sales figures for electrically powered vehicles this year. “Since the beginning of the year we have noticed an increasing demand for electric cars,” brand boss Fabrice Cambolive (55) told the specialist magazine “Autogazette” at the end of last week. That’s why he expects Renault to see growth in e-cars in 2023 as well. In addition, the supply of semiconductors is improving. In addition, the manager expects the cost of electric vehicles to fall – both for customers and for the French group.
“With our Ampere e-division, we will not only be able to further reduce the cost of an e-car, but also the fixed costs of our company,” said Cambolive. Renault is currently being remodeled and wants to split into several independent parts.
Cambolive expects Renault to be more competitive in the e-vehicle market from falling costs, which should be noticeable for customers, especially in terms of prices. The group is working on offering an electric car for 25,000 euros. The electrically operated new edition of the R5 should also cost less than 30,000 euros.