Renault has officially founded Ampere, its dedicated electric vehicle (EV) division, as part of its strategic move to focus on the growing market for electric mobility. Headed by Luca de Meo, Ampere aims to democratize electric vehicles in Europe, with a logo based on Renault’s longstanding diamond symbol, representing perpetual motion and shared goals.
The formation of Ampere follows Renault’s confirmation in May 2022 that it was considering spinning off its EV business. The new division commenced operations on November 1, with the transfer of eleven sites in France, including key industrial plants such as the ElectriCity eMobility cluster and the Cléon factory, to the independent company.
Ampere, now organizationally separated from the Renault Group, remains wholly owned by Groupe Renault. The division’s leadership, consisting of a Corporate group and a Technology & Operations group, aims not only to advance Ampere in the field of electric drives but also to establish it as a significant player in software-defined vehicles. The ambition is to position Ampere as “the first European EV and software pure player.”
With over 11,000 employees, including 35% engineers, Ampere intends to leverage its e-mobility and software development capabilities, coupled with access to Renault’s industrial resources, to reduce costs for the next generation of EVs by 40%. The company targets an average annual sales growth rate of 30% by 2030 and anticipates profitability by 2025, with a double-digit margin by 2030.
While organizational separation has occurred, the ownership structure remains unchanged for now, with Ampere fully owned by Groupe Renault. The planned initial public offering (IPO) is expected in spring 2024, providing flexibility for Renault’s top management to choose the opportune time. Already securing support for the IPO, Alliance partner Nissan will invest up to 600 million euros in Ampere, while Mitsubishi Motors will contribute a maximum of 200 million euros.
Renault CEO Luca de Meo expressed pride in launching this significant step forward, stating, “The roadmap pursued by Ampere reflects the Group’s challenging ambitions, and I am extremely proud to launch this major step forward.”
