Renault electric cars – level 3
20-11-2023 15:00
Renault aims to boost confidence in its electric vehicles unit, Ampere, projecting a revenue surge to 10 billion euros in 2025 and 25 billion euros in 2031.
The company disclosed financial objectives, including break-even in 2025 and a 10% operating margin by 2030, ahead of a planned market listing in 2024. The IPO faces challenges due to sluggish electric vehicle demand, market uncertainties, and heightened Chinese competition. CEO Luca de Meo emphasized Renault’s cash capacity for Ampere’s growth but preferred the IPO for accelerated development. However, he asserted that if the valuation falls below an undisclosed threshold, the IPO plan would be abandoned.
Renault also introduced a new EV model Twingo Legend priced below 20,000 euros, aiming to compete with affordable Chinese alternatives.
Difficult words: disclose (to make a secret or new information known), break-even (to have no profit or loss at the end of a business activity), valuation (the monetary worth of something), threshold (the level, rate or amount at which something comes into effect).
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What measures has Renault put in place to ensure the successful launch of its EV unit Ampere?
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