Ampere, Renault’s big electric bet which is not without risks

The new Renault entity in charge of electric vehicles will be officially presented on November 15, 2023 by Luca de Meo who has very big ambitions, particularly financial.

Between 8 and 10 billion euros. This is the valuation hoped for by Luca de Meo, the general director of the Renault group for his new brand: Ampere (no accent in the text). That is roughly the current valuation of the Diamond brand, which we recall was founded more than 120 years ago. Ambitious ? Without a doubt. Too much ? Only the future will tell us.

This future is fast approaching since we learned a few days ago that Renault is soon organizing its Capital Market Day, a day of official presentation of Ampere to investors and other financial analysts. More precisely on November 15 in Paris. A very important prerequisite for the subsequent IPO.

Renault bets on the Pure Player

What will this Ampere presentation day consist of? Luca de Meo will obviously be there to share Ampere’s strategy as well as its medium-term financial objectives. The arrival on the stock market will wait until spring 2024.

This date of November 15 will therefore be particularly important and closely scrutinized by specialists, because it is a project that is, to say the least, ambitious and unprecedented in the sense that it is the first time that a historic automobile manufacturer has operated a real split between its historical activities linked to thermal power and those linked to electricity. Because next to Ampere, there will be Power, for thermal.

The goal ? Become the European leader in electric vehicles in terms of competitiveness and technology. And to achieve this, Luca de Meo is banking on this unique strategy for the manufacturer to launch a “pure player” in electricity and software, in the sense that it stands out completely from all the activities that already exist within the group. .

6 models by 2030

A way to start almost from scratch, and to be freer in your choices without being tied to what is happening elsewhere. Renault will not be the only one in the Ampere adventure: Nissan, Mitsubishi and Qualcomm (for the Software Defined Vehicle part) will be there. The French manufacturer will, however, remain in the majority.

If Luca de Meo’s plan will be presented in detail this November 15, we already know several elements, such as targeting a 40% cost reduction per car for the next generation of vehicles, by 2027. This will require innovation in the three assembly plants that Ampere will have in the north of France.

The brand will also be able to count on the production of batteries from the AESC Envision and Verkor gigafactories, still in the North, while the electric motors will come from Cléon, in Yvelines. In total, Ampere already has some 10,000 employees in its ranks.

We also know that there are six 100% electric models which should see the light of day by 2030, most of which are already known: obviously the Mégane E-Tech, the highly anticipated R5 but also the new electric Scénic or even the future R4 (or 4L).

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