Renault is pausing the IPO of its Ampere electric car and software division, despite original plans for a partial IPO in the first half of the year. Market conditions and the desire to drive development on our own are the main reasons.

Renault has canceled the IPO of its software and electric car division Ampere. The reason is, among other things, the situation of the markets, according to the French company. We will drive development through our own efforts.

Given the favorable market conditions, Renault had initially planned a partial IPO of the business in the first half of the year. When this was announced in 2023, it was seen as an important pillar of Renault boss Luca de Meo's turnaround strategy.

Ampere wants to offer affordable electric cars

To quickly become profitable in the electric car and software business, Renault foresees cost reductions of 40 percent by 2027/28. This should allow Ampere to offer electric cars ahead of the competition at the same price as combustion engines. Four cars are initially planned for 2025, then seven models in 2031.

Renault boss De Meo, who also heads Ampere, only spoke in November of a “point of no return” in electrification in Europe. According to him, the cars of the future will be defined by software.

Renault's collaboration with technology companies is logical. The software used in the Renault electric car is based on Google's Android Auto.

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