When it was launched at the end of 2023, Ampere was to symbolize the renewal of Renault. The objective was then to create a structure entirely focused on electric cars and software, capable of quickly designing affordable models and attracting investors via an IPO. Luca de Meo saw Ampere as the way to transform Renault into a “new generation” manufacturer.
Ampere, a great idea too heavy to carry
On paper, the ambition was attractive. In fact, she hit the wall of reality. At the start of 2024, Renault had to abandon the IPO of Ampere, officially due to unfavorable market conditions. More simply, investors were not ready to value the entity at the expected 10 billion euros, while demand for electric vehicles was slowing in Europe and the stock market performance of players in the sector remained sluggish.
Without this IPO, the mechanics seized up. Maintaining a separate subsidiary, with its own management, support functions and costs, became difficult to justify. “ If there are no more IPOs, there is no longer any real reason to maintain a dedicated structure », summarizes a source close to the matter with Reuters. Result: Ampere will be absorbed by the parent company, without social disruption. The entity’s 11,000 employees must all be reclassified internally.
This is not the first time that Renault has reversed course. In December, the group had already announced the cessation of most of the activities of Mobilize, its branch dedicated to car sharing and charging services. Here too, the remaining activities were reintegrated into the group. The factories in the north of France – Douai, Maubeuge and Ruitz – which produce the Renault 5 or the Scenic, come back under the direct control of the group, as does the Cléon site.
Since last summer, Renault has been driven by François Provost. After more than twenty years within the group, he takes a more pragmatic line. Fewer complex structures, more simplicity in operation. As early as September, he had also sent a signal by appointing an engineering director common to Ampere and Renault Group, already hinting at a merger.
François Provost’s complete roadmap will be presented next March, but the main directions are already emerging: maintaining a strong presence in electric while strengthening the hybrid offer, and above all reducing costs. In this new organization, Ampere does not disappear completely. The entity becomes an advanced engineering center dedicated to electric vehicles and software, including Ampere Energy and Ampere Software Technology.
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