(CercleFinance.com) – Renault Group announces this evening that it has decided to cancel the IPO of Ampere, a pure European player in electric vehicles and software created by Losange with the aim of democratizing electric vehicles in Europe faster than its pure player competitors.
From the beginning, Renault Group’s strategic approach was to build Ampere as an independent entity. Since November 1, 2023, Ampere has also operated autonomously.
However, while Renault Group planned to list this entity on the stock market during the first half of 2024, the group now considers that ‘current market conditions are not met to continue the IPO process’.
Renault Group will continue to finance the development of Ampere until Ampere reaches financial equilibrium in 2025. All the objectives announced during Ampere’s Capital Market Day are confirmed. Furthermore, this decision has no impact on the financial outlook of Renault Group, nor on its capital allocation strategy.
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