Hyperdrive
Renault to Target $10 Billion Valuation for Its Electric-Vehicle Business
- French carmaker aims for Paris IPO sometime next year
- Renault to elaborate on EV carveout plans at event next week
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Renault SA is aiming for a roughly €10 billion ($10 billion) valuation for the electric-vehicle business the French carmaker is carving out as a standalone entity, according to a person familiar with the matter.
The company is preparing the EV and software entity for a potential initial public offering on the Euronext Paris exchange sometime next year, said the person, who asked not to be identified because the information is private and plans could still change.