Renault has abandoned its plans to list its electric vehicle subsidiary, Ampere, citing unfavorable stock market conditions.
The initial public offering (IPO), previously estimated at up to 10 billion euros, faced challenges due to weakened electric vehicle demand in Europe and increased competition from Chinese automakers.
Luca de Meo, CEO of Renault Group and Ampere, expressed a pragmatic approach, stating a focus on executing the company’s strategy. Renault will continue funding Ampere’s development until it achieves break-even in 2025, emphasizing the self-funded Renaulution plan and the group’s ability to generate sustainable cash flow.
Despite cancelling the IPO, Renault’s alliance partners, Nissan and Mitsubishi, remain interested in investing in Ampere.
