Renault plans spring IPO of Ampere electric vehicle division

French automaker Renault plans to hold the previously announced initial public offering (IPO) of shares in its electric vehicle division Ampere next spring. Renault CEO Luca de Meo said this in an interview with BFM TV. As part of the plan, the automaker wants to spin off the electric vehicle division into a separate company by November 1.

„So we will spin it off and then see whether the conditions are right for a market listing,“ de Meo said.

He added that spring 2024 was the likely timing for the listing.

The division’s spin-off is also one of the main points of talks between Renault and its Japanese partner Nissan. The two companies are seeking to reshape their long-standing alliance, which has lasted for more than two decades. As part of the reorganization, Nissan is expected to invest in Ampere and acquire a 15% stake. The alliance’s third partner, Japanese automaker Mitsubishi Motors, is also considering an investment.