Renault Group CEO Luca de Meo confirmed the automaker’s intention to take its Ampere EV business public in the spring of 2024. The move comes as part of Renault’s broader strategic shift towards electric vehicles (EVs) and software-driven solutions. Ampere, named after the renowned French physicist and mathematician André-Marie Ampère, has been deemed a pioneering “EV and software pure player” by Renault since its introduction in November 2022.
The forthcoming transition involves a strategic separation, with Ampere set to break away from Renault’s conventional combustion-engine operations. The separation is targeted for completion by November 1, 2023, according to de Meo’s statement to France’s BFM TV via Reuters. Following the split, Ampere will initially remain entirely under the ownership of Renault, paving the way for a potential market debut.
See also: Renault says separation of EV and ICE car production could employ 10,000 staff by 2023
This shift holds significance not only for Renault but also for its long-standing alliance with Japanese automaker Nissan. Talks between the two companies have been centered around Ampere’s separation, with a finalized deal showcasing Nissan’s commitment to invest up to $663 million (600 million euros) in the EV unit. This strategic investment will render Nissan a key “strategic investor,” granting it representation on Ampere’s board. The agreement also outlines a possible acquisition of up to 15 percent stake in Ampere by Nissan, bolstering the collaborative efforts between the two automotive giants.
Renault and Nissan have also confirmed plans to modify their cross-shareholdings, culminating in each company holding a 15 percent stake in the other. This marks a significant reshaping of their existing equity arrangement, with Renault currently holding 43 percent of Nissan and Nissan owning 15 percent of Renault.
Ampere, under the leadership of CEO Luca de Meo, is poised to amass a workforce of around 10,000 individuals, including a substantial contingent of engineers. Based in France, the company’s primary focus will be on the development, manufacturing, and sale of fully electric passenger vehicles integrated with cutting-edge software-defined vehicle (SDV) technology. The forthcoming lineup encompasses six electric car models, strategically positioned within Europe’s burgeoning B and C segments.
See also: Renaut targets to control 80% of the supply chain for its electric vehicles by 2030
In the subcompact category, Ampere’s offerings will include the Renault 5 Electric and the anticipated Renault 4 Electric, previewed through the 4Ever Trophy Concept in September 2022. The compact segment will feature established models such as the Megane E-Tech Electric and Scenic E-Tech Electric, along with two forthcoming models that are yet to be unveiled.
