Renault electric cars on the stock market from H2-2023

Renault electric cars will be listed on the stock market in the second half of 2023, the French automaker announced on Tuesday, saying it wants to share its activities in thermal and hybrid engines with the Chinese group Geely.

During a conference dedicated to investors in Paris, Renault indicated that within its new electric subsidiary called “Ampere”, it will bring together 10,000 employees in France to produce one million electric vehicles under the diamond brand, at horizon 2031.

In addition, Renault plans to open up the capital of this structure to potential strategic investors through an initial public offering on Euronext Paris, which would take place no earlier than the end of 2023, subject to market conditions. However, Renault intends to retain control of Ampere.

Producing the new Renault 5 in particular, this subsidiary is aiming for more than 30% annual growth in the next eight years and a 10% margin in 2030, compared to 4.7% for the group in the first half of 2022.

On thermal and hybrid, the French manufacturer will share its activities 50/50 with the Chinese group Geely, already owner of Volvo. The two partners will create an equipment supplier called “Horse” which will develop, produce and sell internal combustion engines (gasoline and diesel) and hybrids.

This Franco-Chinese team will have 19,000 employees in Europe (Spain, Romania and Sweden), China and South America, with 17 factories and 5 research and development centers.

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