Renault will drop the Ampere listing if the rating is too low

A.V.
English Section / 16 noiembrie 2023

Photo source: renault.cm

Photo source: renault.cm

Versiunea în limba română

Renault SA will not launch the initial public offering (IPO) of its electric vehicle division Ampere, planned for next year, if its valuation is too low, the French carmaker's chief executive Luca de Meo said yesterday, according to Reuters.

"We're not crazy," de Meo told reporters ahead of an investor presentation aimed at drumming up support for the IPO.

At the meeting, the Renault boss urged European investors to back its new electric vehicle division, Ampere. Luca de Meo said the French carmaker has "many options", including funding its electric vehicle offensive.

The Renault official insisted, according to the Financial Times: "My task is to defend the European industry and make sure that it will be globally competitive. If you don't like it, go to China or the US."

Luca de Meo added that the Ampere business hopes to attract a new class of investors, being a "green" company. He pointed out: "Perhaps many people who would never invest in a traditional car manufacturer would be interested in the Ampere project."

Ampere's listing is a key component of Luca de Meo's strategy to relaunch carmaker Renault, with the company official betting on a valuation of between 8 billion and 10 billion euros for the electric vehicle division's IPO. The offering has already been delayed once due to unfavorable market conditions, and is now scheduled to take place in the spring of 2024.

But slowing demand for electric cars, stock market turmoil and increasingly fierce competition from Chinese automakers could complicate Luca de Meo's plans, especially since, according to sources cited by Reuters, the valuation considered by the head of Renault is too ambitious. According to the sources, it is possible that Renault will abandon the IPO if the obtained valuation will be lower than 6-7 billion.

Analysts at the Swiss bank UBS Group AG valued Ampere at only 3-4 billion euros.

Ampere has 11,000 employees, 35% of whom are engineers who design, develop and produce Renault vehicles in France.

Renault launched the Legend, a new electric vehicle with a price below 20,000 euros

Yesterday, Renault announced the launch of Legend, its new electric vehicle that has a price of less than 20,000 euros, in the context of Chinese and American competition, according to AFP.

Made in Europe, the Legend is intended to be a compact urban vehicle, planned to hit the market in 2025. The Legend is expected to consume only 10 kWh/100km, CO2 emissions over the life cycle 75% lower than the majority of internal combustion vehicles sold on the European market in 2023 and a reduced consumption of raw materials, thanks to its compact dimensions.

The Ampere division will offer a total of seven electric models by 2031: Megane E-Tech, Scenic E-Tech, Renault 5, Renault 4, Legend and two additional vehicles. Ampere plans to sell 300,000 vehicles in 2025, a goal that will increase to one million units in 2031. At the same time, Ampere wants to achieve a turnover of 10 billion euros in 2025, compared to 46 billion euros, as much as the entire Renault group achieved in 2022. Ampere's expected turnover for 2031 is 25 billion euros, based on a compound annual growth rate of over 30% between 2023 and 2031.

Renault's chief financial officer, Thierry Pieton, said that

the car manufacturer is aiming to make electric vehicles more and more accessible in Europe, so that production costs will be reduced significantly, with a view to lowering sales prices.

Some analysts question the need to list Ampere, arguing that Renault has other ways to raise funds.

--------

Renault is one of the first automakers to develop electric cars in the 2010s, but in the meantime it has been overtaken by competitors such as Tesla Inc. from the USA. In the first nine months of 2023, sales of Renault electric cars fell by around 5% in Europe due to limited supply. The Zoe and Twingo models are nearing the end of their life cycle, and the Scenic and R5 versions will not appear on the market until next year.

Cotaţii Internaţionale

vezi aici mai multe cotaţii

Bursa Construcţiilor

www.constructiibursa.ro

Comanda carte
rpia.ro
danescu.ro
arsc.ro
Stiri Locale

Curs valutar BNR

07 Oct. 2024
Euro (EUR)Euro4.9770
Dolar SUA (USD)Dolar SUA4.5425
Franc elveţian (CHF)Franc elveţian5.2961
Liră sterlină (GBP)Liră sterlină5.9374
Gram de aur (XAU)Gram de aur387.6905

convertor valutar

»=
?

mai multe cotaţii valutare

Cotaţii Emitenţi BVB
Cotaţii fonduri mutuale
Teatrul Național I. L. Caragiale Bucuresti
citiesoftomorrow.ro
energyexpo.ro
cnipmmr.ro
rommedica.ro
prow.ro
aiiro.ro
Studiul 'Imperiul Roman subjugă Împărăţia lui Dumnezeu'
The study 'The Roman Empire subjugates the Kingdom of God'
BURSA
BURSA
Împărăţia lui Dumnezeu pe Pământ
The Kingdom of God on Earth
Carte - Golden calf - the meaning of interest rate
Carte - The crisis solution terminus a quo
www.agerpres.ro
www.dreptonline.ro
www.hipo.ro

adb