Renault, the French automaker, has set out ambitious targets for its electric vehicle (EV) unit, Ampere, and has vowed not to sell it cheap.
The company plans for Ampere to generate €10 billion ($10.8 billion) in revenues in 2025, more than doubling to €25 billion in 2031. Renault also expects Ampere to achieve an operating margin of 10% by 2031.
Renault is betting big on Ampere as it seeks to become a leader in the EV market. The company has invested heavily in developing new EV models, and it plans to have 10 EVs on the market by 2030.
Renault is also confident that it can sell Ampere’s EVs at a premium price. The company believes that its EVs are technologically superior to those of its competitors, and it is willing to charge a premium for them.
“We won’t sell Ampere cheap,” Renault CEO Luca de Meo said at a press conference. “We want to build a premium brand with a high profit margin.”
Renault’s confidence in Ampere is based on several factors. First, the company has a long history of innovation in the automotive industry. Renault was one of the first automakers to develop an EV, and it has continued to invest in EV technology over the years.
Second, Renault has a strong brand reputation. The Renault brand is well-known and respected around the world, and it is associated with quality and reliability.
Third, Renault has a strong dealer network. Renault has a network of over 3,000 dealers in over 130 countries. This network will be crucial for selling Ampere’s EVs to a global audience.
Renault’s ambitious targets for Ampere are a testament to the company’s commitment to the EV market. The company believes that EVs are the future of the automotive industry, and it is determined to be a leader in this space.
Here are some additional details about Renault’s plans for Ampere:
Ampere will be listed on the Euronext stock exchange in the first half of 2024.
Renault will retain a majority stake in Ampere after the IPO.
Renault plans to invest €10 billion in Ampere over the next five years.
Ampere will have its own research and development center.
Ampere will be headquartered in France.
Renault’s plans for Ampere are ambitious, but they are also realistic.
The company has the resources and the expertise to succeed, and it is determined to become a leader in the EV market. Ampere’s IPO will be a major test for Renault, but the company is confident that it will be successful.
If successful, Ampere could be a valuable asset for Renault.
The company could use the proceeds from the IPO to invest in new EV models and technologies. Ampere could also help Renault to expand its global reach.
Overall, Renault’s plans for Ampere are a sign of the company’s commitment to the EV market. The company is confident that Ampere has the potential to be a success, and it is willing to invest heavily in the company’s future.