Renault Plans Spring 2023 IPO for EV Unit Despite Headwinds
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Renault aims to IPO its EV unit Ampere in spring 2023, seeking a valuation of at least €6-7 billion.
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But weaker EV demand, increased competition from China, and market volatility threaten valuation and timing.
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Ampere IPO is part of Renault's overhaul under CEO Luca de Meo, including spinning off engine unit.
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European carmakers concerned about flood of cheaper EVs from China, prompting EU to consider import tariffs.
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Despite tough conditions, Renault still aims to sell 10-20% of Ampere shares, retaining 60-70% stake.