The logo of Renault is seen at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, June 15, 2023.
Renault, which will hold an investor presentation on the IPO on Nov. 15, said there could be short term market pressure but noted that the EV market share in Europe had risen to 20% in 2023 from 15% in 2022, and that independent studies estimated average annual sectoral revenue growth of 20% or more by 2030.
Barclays analysts recently put a 5 billion euro valuation on Ampere, while last week Bernstein analysts wrote an open letter to de Meo advising him to scrap the IPO and consider selling Renault's 28% stake in Nissan That would be on top of around 10% of shares that will go to Renault allies Nissan and Mitsubishi, which have pledged to invest up to 800 million euros in Ampere.