2024-01-30 17:59:42
DECRYPTION – The group has enough cash to develop its subsidiary dedicated to electricity and software.
A decision welcomed by the markets. After Luca de Meo, the general director of the Renault group, and Thierry Piéton, the financial director, announced Monday evening the decision not to list Ampère, financial analysts validated this choice. The reasons given for abandoning the IPO project for this subsidiary dedicated to electricity and software were convincing. The stock gained 1.27% on Tuesday.
The first reason could be sufficient in itself: “Stock market conditions” are not conducive to the operation, explained the group’s boss. In fact, pure players in electric vehicles are currently poorly valued. Chinese competition and fears of price wars are worrying investors. Even Tesla has seen its stock price lose 23% since the start of the year.
While current valuations of electric vehicle makers have made an IPO unattractive, sentiment toward electric vehicles…
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