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Renault held an investor day for its electric vehicle subsidiary Ampere, where it plans to cut costs and launch electric cars for less than 20,000 euros to win investment.
Ampere aims to achieve revenue of 10 billion euros in 2025 and sell 1 million cars by 2031. Renault CEO said Ampere is the most ambitious project to address the East-West challenge and plans to sell shares to investors in the spring of 2024 at a valuation of 8-10 billion euros.
Ampere’s first electric car, the Renault 5, will be launched in early 2024, with a starting price of 25,000 euros. A small model called “Legend” will be launched in 2025, priced at less than 20,000 euros.
Renault said it may delay its initial public offering if it is not satisfied with Ampere’s valuation. Renault’s Japanese partners Nissan and Mitsubishi will invest up to 800 million euros in Ampere.
(Source: AFP Image source: freepik)
