Ampere IPO cancelled: Renault’s plans suffer electric shock

In November 2023 Renault announced plans to float its newly created electric vehicle (EV) division, Ampere, via an IPO. Less than three months later this plan was cancelled, Renault saying it would instead fund Ampere’s development itself. The 2023 announcement set out a detailed plan to create the new separate company. Targets were clear and may yet be met within Renault, although analysts’ lack of enthusiasm for the IPO came from doubts about Renault’s ambitions and broader EV market trends.