RENAULT

Renault to spin off electric vehicle arm Ampere
Renault SA plans to reintegrate its electric vehicle and software business Ampere into its parent company, halting a major strategic move. Former CEO Luca de Meo had promised investors that Ampere would be worth 10 billion euros, but that promise has not materialized.
For a year and a half, the Renault Group had announced its plans, and in November 2023, the time came: Renault established the independent company Ampere for electric cars and software-defined vehicles (SDVs), employing around 11,000 staff, of whom approximately 35% were engineers. As part of this move, the e-mobility cluster ElectriCity in northern France—comprising the car factories in Douai and Maubeuge, as well as the component plant in Ruitz—along with the component plant in Cléon, were transferred to Ampere’s ownership. Ampere also took over production responsibility for electric models such as the Renault 4 and Renault 5, which continued to be marketed under the Renault brand. Later, Ampere opened a new software centre near Nice.
Ampere was considered a pet project of former CEO Luca de Meo, who also brought the alliance partners Nissan and Mitsubishi on board and aimed to take Ampere public quickly. However, Renault postponed the IPO in January 2024, and it has not been rescheduled since. In March 2025, Nissan was released from its obligation to invest €600 million in Ampere. And in May 2025, the €200 million investment agreement with Mitsubishi was also terminated.
After Luca de Meo moved to the luxury group Kering in the summer of 2025, his successor, François Provost, began reviewing the strategy. He now appears set to reverse the spin-off of Ampere, despite having previously supported it. This is reported by the news agency Reuters, citing two insiders. However, Luca de Meo may have at least indirectly prepared this step by terminating the contracts with Nissan and Mitsubishi – because since then it was clear that Ampere belongs entirely to Renault anyway.
Bloomberg reports that CEO Francois Provost is dismantling the standalone electric vehicle unit less than six months into his term, citing lower-than-expected demand for electric vehicles and the need to simplify Renault’s corporate structure. In January 2024, Renault canceled its initial public offering of Ampere shares altogether. The official explanation cited unfavorable market conditions, but the real problem was simpler: investors were not willing to pay what Renault was asking. Demand for electric vehicles in Europe had waned.
De Meo left Renault in mid-2025 to become CEO of luxury group Kering, leaving Provost to deal with the fallout from an electric vehicle strategy that looked great on paper but clashed with market reality. Renault is doing well with electric vehicles, especially with the R4 and R5 models, but the overall electric car market is not growing as expected. The reorganization will transform Ampere into an engineering center focused on software and electric vehicle development within the Renault Group. It will eliminate the administrative costs of maintaining a separate corporate structure.
Renault is set to reintegrate its electric vehicle unit, Ampere, back into the main group, effectively shutting down the separate EV company as of July 2026, according to recent reports in January 2026, reversing the previous plan to spin it off publicly after market conditions made an IPO unfeasible and CEO François Provost seeks operational streamlining. Ampere, established in 2023 for developing affordable, software-defined EVs like the Renault 5 and Renault 4, will see its EV tech, factories, and 11,000 employees returned to direct Renault control, simplifying structure and reducing costs, with no job losses anticipated but unions remaining vigilant.
Background of Ampere(below):
Launch: Ampere was formed in late 2023 as an autonomous unit to accelerate Renault's EV and software strategy, aiming to be a European competitor to Tesla and Chinese EV makers.
Goal: To lower EV costs by 40% and develop software-defined vehicles (SDVs) using a new platform starting in 2026.
IPO Cancellation: An initial public offering (IPO) planned for 2024 was canceled in January 2024 due to poor market conditions, making the standalone structure redundant.
Partnerships: Renault brought in partners like Nissan and Mitsubishi, though their investment obligations were later terminated.
The reintegration plan (January 2026):
New Leadership: Under CEO François Provost, the focus shifts to streamlining operations after the failed IPO.
Structure: Ampere's EV development, manufacturing (Douai, Maubeuge), component plants, and 11,000 staff will be brought back under Renault Group's direct management.
Rationale: To simplify organization, cut costs, and accelerate project implementation, leveraging Renault's stronger financial position.
Products: Ampere's EV models (Renault 5, 4, Twingo) will continue to be sold under the Renault brand, with Ampere managing their full lifecycle internally.
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