Renault Group announced this evening that it has decided to cancel the initial public offering (IPO) of Ampere, a European pure player in electric vehicles and software created by Le Losange with the aim of democratizing electric vehicles in Europe faster than its pure player competitors.

From the outset, Renault Group's strategic approach was to build Ampere as an independent entity. Since November 1, 2023, Ampere has been operating autonomously.

However, while Renault Group had planned to float this entity on the stock exchange during the first half of 2024, the Group now considers that 'current market conditions are not conducive to pursuing the IPO process'.

Renault Group will continue to finance Ampere's development until Ampere reaches financial equilibrium in 2025. All the objectives announced at Ampere's Capital Market Day are confirmed. Furthermore, this decision has no impact on Renault Group's financial outlook, nor on its capital allocation strategy.


Copyright (c) 2024 CercleFinance.com. All rights reserved.