Renault Ampere

History

2022: Renault splits electric vehicle division into Renault Ampere

On November 8, 2022, French automaker Renault announced a restructuring in which the electric vehicle division will spin off into a new company called Ampere. It is planned to be put on the Euronext Paris exchange no earlier than the second half of 2023.

The automaker, talking about the reorganization for investors, noted that the new structure will employ about 10 thousand employees in France and produce R5 and 4L electric vehicles in the north of the country. Renault said it planned to raise investment in Ampere but would remain the majority shareholder, backed by potential strategic cornerstone investors.

Renault spun off its electric vehicle division into a new company

Renault is also set to combine its technology, manufacturing and research activities to build hybrid and internal combustion vehicles with Chinese automaker Geely into a new Horse division.

The concerns will jointly use the division to design, develop, manufacture and sell components and systems for hybrid and internal combustion vehicles, which will employ 19 thousand people in Europe, China and South America.

Through a restructuring of its operations, Renault is looking for higher operating margins in the coming years. The company wants to ensure that in 2025 it is above 8%, and in 2030 - exceeds 10%. Previously, the target level for 2025 was at least 5%.

The electric vehicle market is expected to grow rapidly in response to consumer worries about climate change, forcing manufacturers to develop less polluting products. In October 2022, the European Union decided to phase out new cars emitting CO2 by 2035, which should speed up production of electric prototypes on the continent.^[1]

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