Renault
Compare Renault…Designs, manufactures, and sells passenger cars, light commercial vehicles, and related services under the Renault, Dacia, and Alpine brands.
SectorsElectric Vehicles
Register for a premium account to gain access to Sterling AI.
Get StartedThings you can ask Sterling:
RenaultDesigns, manufactures, and sells passenger cars, light commercial vehicles, and related services under the Renault, Dacia, and Alpine brands.
| Date / Milestone | Status / Capital | Context |
|---|---|---|
| 2021-01. Renaulution strategic plan launched | Pre-Ampere | Luca de Meo becomes CEO July 2020; Renaulution plan addresses Renault Group profitability via brand + powertrain re-prioritization |
| 2022-11-08. Capital Markets Day. Ampere announced | EUR 8 to 10B target valuation | Plan to spin out BEV + SDV business as Ampere; Power (ICE + LCV) becomes separate unit; Mobilize becomes mobility services; Horse is the planned ICE-engine JV |
| 2022-Q4. Strategic partners committed | Qualcomm + Google + LG Magna | Qualcomm Snapdragon Cockpit, Google Maps + Android Automotive, LG Magna for E-motor + inverter components; SDV stack co-developed with Google |
| 2023-04. Nissan + Mitsubishi indicated minority investment | Up to EUR 600M Nissan, EUR 200M Mitsubishi | Alliance partners would take pre-IPO stakes alongside Renault Group; reaffirmation of Renault-Nissan Alliance future |
| 2023-06. Ampere headcount + plant assignments | ~10K employees, 5 plants | Cleon (E-motor), Douai (Megane + Scenic), Maubeuge (R4 BEV), Mulhouse (R5 BEV), plus battery JV at Verkor (Dunkerque) for cells |
| 2023-11. R5 E-Tech revealed | First Ampere-era launch | Targeted EUR 25K starting price; Megane and Scenic E-Tech already in market; SDV architecture debuts |
| 2024-01-29. Ampere IPO formally cancelled | Plan abandoned | Renault cites: weak EV market sentiment, declining BEV growth rates across Europe, disappointing institutional pre-IPO investor interest; subsidiary structure to be unwound |
| 2024-Q2. Ampere folded back into Renault Group | Subsidiary dissolved | Engineering, plants, BEV product lines all return to Renault Group BEV operations; SDV partnership with Qualcomm + Google continues but at parent level |
| 2024-Q3. CEO Luca de Meo announces departure | Leaves July 2025 | de Meo cites successful turnaround; some commentary links exit to Ampere setback; Fabrice Cambolive becomes interim then permanent CEO |
| 2025. R4 E-Tech launches; Twingo BEV planned 2026 | BEV expansion continues | Without Ampere structure; legacy Renault model approach with Cleon E-motor + Verkor cells; SDV partnership unchanged |
| Lessons captured | Editorial | Ampere failed because (1) European EV market growth stalled 2023 to 2024, (2) standalone EV-subsidiary valuations collapsed industry-wide (Ford Model e EBIT losses, Lucid stock decline), (3) Renault could not justify separating BEV from ICE during a profit-driven turnaround. Ampere was a 2022-conceived strategy executed against a 2024 environment that no longer rewarded BEV-only equity stories. |