Dive Brief:
- Renault Group CEO Luca de Meo will lead Ampere, the automaker’s electric vehicle and software subsidiary, according to a company press release Monday.
- Josep Maria Recasens, chief strategy officer at Renault Group, and Vincent Piquet, chief financial officer for the Renault brand, will serve as Ampere’s chief operating officer and CFO, respectively.
- The company aims to lower EV costs by 40% per vehicle by 2027 and develop new battery technologies and software-defined vehicle architecture.
Dive Insight:
Automakers are using a wide range of strategies and tactics to lower EV costs, gain greater control over their EV supply chains and maximize the value of their EV transitions. For instance, Ford Motor Co. said last spring that it would split its business into two entities, with Ford Blue dedicated to traditional internal combustion engine vehicles and Model E focused on EVs and software. Renault Group is taking a similar approach with Ampere.
“Combining the agility of a pure player with the strengths of an established OEM makes Ampere unique,” de Meo said in a statement.
The announcement comes as Ampere prepares for its initial public offering, which could be worth $11 billion, according to Reuters.
Ampere will have approximately 10,000 employees — about a third of them engineers.
BNP Paribas, Goldman Sachs, JPMorgan and other investment banks will coordinate the company’s IPO, Reuters reported.
