Renault cancels the IPO of its electric subsidiary Ampere

Renault is changing its plans for Ampère, its division dedicated to electric vehicles and software. The group finally gave up on listing its nugget on the stock market, as planned more than a year ago. The operation had, however, been carefully prepared to attract new investors. In mid-December, the group brought together the small world of finance in Paris to convince them of its merits. Luca de Meo, the general manager, knew that it was not unanimous, the round table for Ampère's capital being already very crowded. Renault intended to retain the majority. Nissan and Mitsubishi were present. Qualcomm, the chip and software giant, had planned to invest… The manager then gave his arguments to Le Figaro: “We can wonder if a possible IPO makes sense, that’s true. We have the means to make Ampère. We could absorb the cash expenditure that naturally we will burn at the beginning. By carrying out an IPO, I derisk the group and I can take slightly larger bets. »

The group's management now justifies its decision by liquidity levels higher than expected: “Over the last few semesters, Renault Group has significantly improved its performance to reach levels exceeding its initial expectations. This gives the group greater flexibility and all the room to maneuver it needs. » The managers nevertheless recognized that the market was “not buoyant at the moment for manufacturers of electric vehicles”.