Renault Group Decides To Cancel Ampere IPO Process On Current Equity Market Condition

(RTTNews) - Renault Group has decided to cancel the Ampere IPO process considering both current equity market conditions and stronger cash generation. In 2022, Renault had announced its intention to proceed with an IPO for this entity. Renault noted that the decision has no impact on the financial guidance of Group and its capital allocation strategy.

"We are all focused on executing our strategy and building our track record to create value for all our stakeholders," said Luca de Meo, CEO Renault Group & CEO Ampere.

Renault Group said it will continue to fund the development of Ampere until Ampere reaches breakeven in 2025.