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Reanult megane3/18/2023 Renault will remain the majority shareholder but is keen to find other investors and rumour has it that Nissan ( NSANY ) and Mitsubishi Motors (7211) are considering investing. To finance the spin-off and its strategic plan, RNO will launch an initial public offering (IPO) of Ampere on Euronext Paris in the second half of 2023. By 2030, Ampere will offer six EVs: The Renault 5 Electric and Renault 4 Electric, the Megane E-Tech Electric, the Scénic Electric and two other models yet to be revealed. Renault also said it will expand its partnership with software giant Google ( GOOG), which will design and deliver onboard and offboard software components for its vehicles.īut it was the restructuring plan that has taken the attention of the markets and investors will be keenly watching Renault stock over the next few months to see how the stock progresses.Īmpere, which is a French-based company, will produce one million EVs by 2031. Renault Group will own 50% of this company representing revenues of €15billion globally from Day 1,” a Renault statement said. “By creating such leading powertrain technology company, Renault Group and Geely are combining their technological, manufacturing and R&D assets. Under the framework agreement, Geely and Renault Group will hold respective 50-50 equity stakes in the new company. The company also announced it would solidify its ties with Chinese vehicle company Geely ( GELYY), alongside US tech giant Google ( GOOG). So, could its spin off, and restructuring, which Renault has called “Renaulution”, invigorate new life into its share price? US30 US Wall Street 30 (USA 30, Dow Jones)ĭespite what some would say are innovative plans, yesterday’s announcement was far from needle moving and the RNO stock price has been down 25% this year.
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