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Renault targets €10bn valuation for EV business Ampere

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The company is said to be preparing the entity for a potential initial public offering on the Euronext Paris exchange in 2023

Renault is aiming for an about €10bn valuation for the electric-vehicle business the French carmaker is carving out as a stand-alone entity, according to a person familiar with the matter.

Renault will brief investors about its revamp plans, which are still being finalised, during a capital markets day on November 8. A spokesperson declined to comment. The IPO would be subject to market conditions, the person familiar with the situation said. Recent turbulence in share prices has put a damper on new offerings.

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