Renault wants to give a big boost to the electric car market.
The French car manufacturer presents this Tuesday a "revolution" which must attract investors.
The diamond brand is launching Ampere, its new electric subsidiary which will bring together 10,000 employees in France to produce one million electric vehicles under the Renault brand by 2031.
A new entity that aims for more than 30% annual growth in the next eight years, and 10% margin in 2030. Ampere will notably produce the new Renault 5 and Renault 4 in the North of France.
The group's finances remain fragile
The diamond brand intends to list this subsidiary on the Paris Stock Exchange “at the earliest in the second half of 2023” and thus finance its costly electric shift.
Renault, in which the French state and Nissan each own 15%, has yet to specify the share that its Japanese partner will take in its new electric subsidiary.
On the thermal engine side, Renault will share its activities with the Chinese group Geely, owner of Volvo.
This Franco-Chinese team will have 19,000 employees around the world.
The group's finances, however, remain fragile: Renault had begun to recover from a historic loss due to the Covid-19 pandemic in 2020, before taking a new hit with its withdrawal from Dacia in Russia in the spring of 2022.
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