2023-08-29 16:12:21
29/08/2023 a las 16:12h.
This functionality is for subscribers only
subscribe
Renault, in an attempt to transform its business to face the transition to electric vehicles, has decided to divide its business units into two: Horse, focused on combustion engines; and Ampere, with everything pertinent to zero-emission mobility.
The CEO of the French group, luca de meo, will be the head of the latter, based in Paris. As stated by the Italian manager in an interview with the French news channel BFM TV, November 1 has been set as the key date to separate Ampere from the manufacturer’s traditional business.
This decision is part of the preparation to launch the public sale offer, scheduled for spring 2024. “First we separate them, and then we see if we have favorable conditions to enter the market.”
Related News
The split is one of the key points for the restructuring of the Renault-Nissan-Mitsubishi Alliance, which wants to reformulate a business cooperation that is more than two decades old
In this, it is the Japanese side that has been particularly dissatisfied. Even so, Nissan is expected to take a 15% stake in the new company and to continue, albeit more distanced, with their technological cooperation.
Renault expects Ampere to be a profitable business unit by 2025. By 2030, the goal is for it to reach double-digit operating margin once the next decade begins.
This electrical division will be able to reach 10,000 employees, a third of them being engineers.
For its part, Horse, its combustion counterpart, will be based in Madrid. In it, the Chinese group Geely will participate in equal parts and the Saudi oil company Aramco is expected to join them.
See comments (0)
report a bug
This functionality is for subscribers only
subscribe
#Renault #prepares #IPO #emissions #division