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Ampere, unveiled last year, was preparing for an initial public offering (IPO) in the first half of 2024, but parent Renault has postponed those plans indefinitely. As Renault assures, the problem is not with Ampere, which will continue to operate, but with the current state of the market: going public is now unprofitable.

The IPO has been delayed, but the Ampere team is still “fully committed to implementing the strategy” to cut electric car costs by 40 percent in one generation. Her tasks also include improving software and artificial intelligence for electric cars, and working on important new products – 4, 5, Scenic, Twingo and two other models.

Renault will continue to invest in Ampere. The company is expected to begin to break even in 2025. Already, Ampere’s results have turned out to be better than expected, which has led to the generation of funds and, as a result, reduced the need for placement of shares. Nissan also committed to invest 600 million euros in Ampere as part of the restructuring of the Renault-Nissan-Mitsubishi alliance.

According to the head of the Renault Group, Luca de Meo, the “flexible and competitive” company was created in record time. Ampere will continuously innovate, which will make it successful in the “new challenging environment,” he added.

It was previously reported that Ampere will develop six electric cars by the end of the decade. By 2026, it should increase production to 600 thousand cars per year, and by 2031 – to a million.

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