Hyperdrive
Renault Casts EV Business Ampere as Europe’s Answer to Tesla
- CEO to lay out case for Ampere IPO in tough market conditions
- Renault has no plans to price Ampere IPO at a discount: de Meo
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After clearing up record losses and a toxic partnership, Renault SA Chief Executive Officer Luca de Meo is preparing his biggest bet on taking the French carmaker through the electric-car transformation.
Investors will this week learn more about the planned initial public offering of Renault’s EV and software arm targeting an ambitious valuation of €8 billion ($8.5 billion) to €10 billion. At a capital market day on Nov. 15, de Meo will pitch how he’ll overcome a difficult market for listings and catch up in the race for a European answer to Tesla Inc. and competition from Chinese manufacturers.