PARIS - French automaker Renault presented its green revamp to investors Tuesday, splitting its operations in two: a new electric vehicle unit and a subsidiary for thermal and hybrid assets that will pair up with China's Geely.
Ampere is being prepared for an initial public offering on the Euronext Paris in the latter half of 2023, Renault said. "We are designing an agile and innovative organisation to manage the volatility and accelerated technological evolution of our time," said Renault CEO Luca de Meo. The value of traditional car manufacturers pales in comparison to new players on the market specialising in electric vehicles such as Elon Musk's Tesla or Chinese firm BYD.
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