- Ampere now an autonomous company and the first European EV and software pure player.
- Ampere aim for EV / ICE price parity thanks to a clear road map to 40% cost reduction by 2027/2028.
- “In the true spirit of Renault, Ampere is engineered to make electric and connected cars affordable for all, addressing the imperatives of energy transition and seizing the growth opportunities on the market”. – Luca De Meo – CEO | Renault Group
Ampere now a fully autonomous company
Renault has announced that Ampere, their dedicated electronic vehicle (EV) and software company, has now become a fully autonomous company. The move comes as Renault prepares for a proposed initial public offering (IPO) of Ampere in 2024.
Undeniably, the EV market has become more complicated for OEMs. Despite raising manufacturing costs, new entrants to the market (notably from China) and the wider cost of living crisis for consumers, Renault CEO Luca de Meo is still optimistic that Ampere will raise upwards of €7 billion when made public next year.
As part of Renault’s wider EV strategy also announcemed the Legend. Based on the EV Twingo, the Legend will be made in Europe and cost less than €20,000. Such a low price raises the stakes in the on-groing price war for all EV manufacturers.
The Legend is the fifth EV announced by Renault, as the OEM looks a complete product line up of EVs. Renault have already announced the Scenic E-Tech, Renault 5 and the Renault 4. The latter two slated for release in 2024 and 2025 respectively.
Renault looks to the future
In 2022, Renault Group outlined five core pillars of their transition into a future-proof OEM. The five core pillars were: EVs and software, new mobility services, circular economy, high-end vehicles alongside new and existing internal combustion engine (ICE) and hybrid vehicles.
Significantly, this next step announced today sees Ampere tasked with a host of wider company targets. Notably, Ampere are aiming for EV / ICE price parity by 2027/28 through achieving a 40% reduction in production cost.
Additionally, other central targets include generating €25 billion of revenue by 2031 and becoming a net zero company by 2035. If achieved, Ampere will embody a new way of sustainable vehicle manufacturing.
“Ampere is an ambitious, holistic, and structural response of the European industry to the challenges coming from East and West. In the true spirit of Renault, Ampere is engineered to make electric and connected cars affordable for all, addressing the imperatives of energy transition and seizing the growth opportunities on the market.
Ampere is first about striving for technological excellence and customer experience: two EV-native platforms, a powerful line-up of seven cars, a new generation of centralized electronic architecture, an advanced Android-based software suite, and the most compact and efficient supply and manufacturing EV ecosystem, all created in Europe.”
– Luca de Meo – CEO | Renault Group