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Renault SA, Nissan's top shareholder, is reportedly open to Nissan pursuing merger talks with Honda as a way to strengthen the Japanese company amid challenges in the automotive industry. Renault, holding a 36% stake in Nissan, will play a crucial role in any potential agreement. While Renault is open to a deal that benefits Nissan, it will prioritize protecting its own interests. The potential talks come as Nissan faces financial difficulties, including job cuts and reduced production. [Extracted from the article]

Renault SA, Nissan's largest shareholder, is reportedly open to Nissan pursuing merger talks with Honda Motor Co. in an effort to strengthen the Japanese company amidst global challenges. Renault, holding a 36% stake in Nissan, will play a crucial role in any potential agreement. While Renault is open to a deal that benefits Nissan, it will prioritize safeguarding its own interests. The talks between Nissan and Honda are still in the early stages, with both companies facing difficulties in the global automotive market. [Extracted from the article]

Stellantis NV CEO Carlos Tavares has resigned early due to a disagreement with the board over strategies to address declining sales and a stock slump. Tavares, known for his cost-cutting efforts, will be replaced by an interim committee until a new CEO is appointed in the first half of 2025. The company's financial guidance for the year has been confirmed, but shares have declined by 38% in the past 12 months, leading to concerns about the automaker's long-term prospects. [Extracted from the article]

Renault SA is expanding its electric-vehicle business by hiring 200 people in Shanghai to develop a sub-€20,000 electric Twingo, aiming to learn from China's successful EV market. The move has faced internal criticism in France, where some unions are concerned about efficiency measures. Renault's CEO plans to introduce more affordable EV models in France by 2026, leveraging lessons learned from China to enhance competitiveness. [Extracted from the article]

Renault SA is expanding its electric-vehicle business by hiring 200 people in Shanghai to work on developing a sub-€20,000 electric Twingo. The company aims to learn from the Chinese market where battery-powered cars are selling well and integrate this knowledge into its operations in France. Renault's CEO is focused on making affordable EVs in France, retooling local factories to manufacture new models like the R5. Despite challenges, Renault is optimistic about its future competitiveness in the EV market. [Extracted from the article]

Renault SA is defying the European auto industry slump by confirming its full-year guidance and expecting growth from new models like the R5 electric car and updated Dacia SUVs. Despite challenges faced by other automakers, Renault's third-quarter revenue reached €10.7 billion, with a group operating margin target of at least 7.5% and free cash flow of €2.5 billion or more. CEO Luca de Meo's strategic introduction of new EVs has contributed to Renault's success, with shares rising 15% this year and plans for future models like the Dacia Bigster and Alpine A290 city car to further boost profitability. [Extracted from the article]

Renault SA is defying the European auto industry slump by confirming its full-year guidance and expecting growth from new models like the R5 electric car and updated Dacia SUVs. Despite challenges faced by other automakers, Renault's third-quarter revenue reached €10.7 billion, with a group operating margin target of at least 7.5% and free cash flow of €2.5 billion or more. CEO Luca de Meo's strategic introduction of new EVs and cost-cutting measures have positioned Renault favorably, with analysts acknowledging the company's exceptional performance in a challenging market. [Extracted from the article]

Renault SA has confirmed its full-year guidance, anticipating a boost from new models like the R5 electric car and updated Dacia SUVs. Despite third-quarter revenue slightly missing analyst expectations at €10.7 billion, Renault aims for a group operating margin of at least 7.5% and free cash flow of €2.5 billion or more. CEO Luca de Meo's strategic introduction of new EVs and cost-cutting measures have positioned Renault favorably compared to industry peers facing profit warnings due to various challenges. [Extracted from the article]

Demand for electric vehicles (EVs) is rebounding as prices for plug-in models decrease, according to Stellantis NV and Renault SA. At the Paris auto show, Stellantis' Citroën brand head, Thierry Koskas, stated that EV demand may be approaching a tipping point. Renault CEO Luca de Meo reported that EVs accounted for 35% to 40% of sales at a recent event. Automakers are showcasing affordable electric models in Paris to compete with Chinese manufacturers. Stellantis, Volkswagen AG, and Renault are also contending with a slowdown in EV demand due to subsidy cuts. [Extracted from the article]

Demand for electric vehicles (EVs) is rebounding as prices for plug-in models decrease, according to Stellantis NV and Renault SA. At the Paris auto show, Stellantis' Citroën brand head, Thierry Koskas, stated that EV demand may be approaching a tipping point. Renault CEO Luca de Meo mentioned that EVs accounted for 35% to 40% of sales at a recent event. Automakers are showcasing affordable electric models in Paris to compete with Chinese manufacturers, despite subsidy cuts causing a slowdown in EV demand. De Meo also emphasized the need for cooperation between the West and China to advance electrification in Europe. [Extracted from the article]

Renault has unveiled the R4 E-Tech, a compact electric vehicle designed to compete with budget offerings from Chinese manufacturers. Priced below €35,000 ($38,252), the R4 is a plug-in version of a popular economy car from the 1960s. It will be manufactured in France and is part of Renault's strategy to counter a slowdown in demand for electric vehicles caused by subsidy cuts. The R4 has a driving range of 400 kilometers (249 miles) and features advanced technology such as a bidirectional charger and a ChatGPT-powered digital assistant. Renault plans to introduce more affordable EVs in the future, including an electric Twingo in 2026. [Extracted from the article]

Nissan Motor Co. has announced plans to buy back ¥79.9 billion ($551 million) worth of its shares from Renault SA as part of an effort to rebalance its alliance with the French carmaker. This deal will provide Renault with additional funds for the development of electric vehicles, allowing it to compete with Chinese automakers entering the European market. Renault will receive €494 million ($551 million) from the transaction, supporting its goal of achieving an investment-grade rating. The decision to reshape their alliance was made last year after years of tension between the two companies. [Extracted from the article]

Germany's electric-vehicle (EV) market experienced a significant decline last month, contributing to an overall drop in EV sales across Europe. This has prompted carmakers to call on the European Commission to reconsider climate targets and provide relief measures. The decline in EV sales is primarily attributed to the reduction of government incentives, which had previously made EVs more affordable. The situation is particularly pronounced in Germany, where the economy is facing setbacks and car manufacturers are reevaluating their strategies. However, the UK saw a 10.8% increase in EV sales. The decline in EV sales is also putting pressure on the EU's deadline to ban new combustion-engine cars by 2035, with European automakers divided on the way forward. [Extracted from the article]

Germany's electric-vehicle (EV) market experienced a significant decline last month, contributing to an overall drop in EV sales across Europe. This has prompted carmakers to call on the European Commission to reconsider climate targets and provide relief measures. The decline in EV sales is primarily attributed to the reduction of government incentives, which had previously made EVs more affordable. The situation is particularly pronounced in Germany, where the auto industry is facing setbacks and the economy may be entering a recession. However, the UK saw a 10.8% increase in EV sales. The downturn in EV sales also poses a risk for carmakers in meeting tighter European Union fleet-emissions rules and the EU's deadline to ban new combustion-engine cars by 2035. [Extracted from the article]

Germany's electric-vehicle (EV) market experienced a significant decline last month, contributing to an overall drop in EV sales across Europe. This has prompted carmakers to call on the European Commission to reconsider climate targets and provide relief measures. The decline in EV sales is primarily attributed to the reduction of government incentives, which had previously made EVs more affordable. The situation is particularly pronounced in Germany, where the economy is facing setbacks and car manufacturers are reevaluating their strategies. However, the UK saw a 10.8% increase in EV sales. The decline in EV sales is also putting pressure on the EU's deadline to ban new combustion-engine cars by 2035, with European automakers divided on the way forward. [Extracted from the article]

Electric vehicle (EV) sales in Europe, particularly in Germany, have experienced a significant decline, prompting carmakers to call on the European Commission to reconsider climate targets. The European Automobile Manufacturers' Association reported a 69% drop in EV deliveries in Germany and a 36% decline across the region in August. The decrease in demand for EVs is attributed to the reduction of government incentives that had previously made these vehicles more affordable. This decline has led car manufacturers to reassess their strategies and timelines for transitioning away from combustion engines. The UK was the only major market where EV sales increased, while other European countries experienced a downturn in new car registrations. The decline in EV sales also poses a risk of hefty fines for carmakers as tighter EU fleet-emissions rules are set to take effect next year. The situation is putting pressure on the EU's deadline to ban the sale of new combustion-engine cars by 2035, with European automakers divided on the way forward. [Extracted from the article]

Renault SA's shares fell nearly 10% after disappointing results were reported by its partner Nissan Motor Co. and French peer Stellantis NV. The decline overshadowed Renault's record returns for the first half of the year. Carmakers are facing challenges due to weakening demand, particularly for electric cars. Despite this, Renault's results were slightly better than expected, with the company reporting its highest-ever profitability. Renault's CEO is focusing on new products, including the battery-powered Renault 5, to boost sales. [Extracted from the article]

Renault SA, a French automaker, has reported its highest-ever profitability in the first half of the year. This is attributed to lower raw-material costs and strong demand for SUVs like the Austral and Espace. The operating margin exceeded analysts' projections, coming in at 8.1%. Renault is facing challenges in the European market due to slowing demand for electric vehicles, but CEO Luca de Meo is optimistic about the launch of 10 new products this year, including the battery-powered Renault 5. The company's revenue for the first half was €27 billion ($29.3 billion), and its shares have seen a 29% increase this year. [Extracted from the article]

Renault SA, a French automaker, achieved its highest-ever profitability in the first half of the year due to lower raw-material prices and strong demand for SUVs. The company's operating margin of 8.1% exceeded analysts' expectations of 7.9%. Despite a challenging market for electric vehicles in Europe, Renault is confident in its full-year guidance for operating profitability and free cash flow. The company is focusing on introducing 10 new products, including the battery-powered Renault 5, to boost sales. Renault's shares have performed well, increasing by 29% this year. [Extracted from the article]

Saudi Aramco, the world's largest oil company, will acquire a 10% stake in a joint venture between Renault SA, a French car manufacturer, and Zhejiang Geely Holding Group Co., a Chinese automaker. The deal values the joint venture, called Horse Powertrain Ltd., at €7.4 billion ($7.93 billion), with Renault and Geely each retaining 45% stakes. The joint venture, which was established in May, aims to produce combustion engines and hybrid powertrains and is a significant part of Renault's CEO Luca de Meo's restructuring plans for the company. [Extracted from the article]

Saudi Aramco is set to acquire a 10% stake in a powertrain joint venture with Renault SA and China's Zhejiang Geely Holding Group Co. The deal values Horse Powertrain Ltd. at approximately €7.4 billion ($7.9 billion), with Renault and Geely each retaining around 45% ownership. The three companies had previously announced plans to produce combustion engines and hybrid powertrains through the joint venture, with Saudi Aramco initially indicating its intention to own up to 20% of the company. The transaction is expected to be finalized by the end of the month. [Extracted from the article]

Saudi Aramco is set to acquire a 10% stake in a powertrain joint venture with Renault SA and China's Zhejiang Geely Holding Group Co. The deal values Horse Powertrain Ltd. at approximately €7.4 billion ($7.9 billion), with Renault and Geely each retaining around 45% ownership. The three companies had previously announced plans to produce combustion engines and hybrid powertrains through the joint venture, with Saudi Aramco initially intending to own up to 20% of the company. This move comes after Saudi Aramco recently raised $11.2 billion through a stock sale to support Crown Prince Mohammed Bin Salman's economic development plans. [Extracted from the article]

Saudi Aramco, the world's largest oil company, is set to acquire a 10% stake in a powertrain joint venture with Renault SA and China's Zhejiang Geely Holding Group Co. The deal values Horse Powertrain Ltd. at approximately €7.4 billion ($7.9 billion), with Renault and Geely each retaining around 45% ownership. The joint venture aims to produce combustion engines and hybrid powertrains, with Saudi Aramco initially planning to own up to 20% of the company. The announcement of the agreement is expected by the end of the month. Saudi Aramco's investment is part of its efforts to raise funds for Crown Prince Mohammed Bin Salman's economic development plans. [Extracted from the article]

Renault SA plans to develop a sub-€20,000 ($21,700) electric car, the Twingo, in China in order to bring affordable electric vehicles to the market faster. The French automaker will partner with a Chinese company to work on the battery-powered city car, which is expected to be available for sale in 2026. The move is aimed at improving development lead time and costs, as well as learning from Chinese peers about faster electric vehicle development. This decision is unrelated to Volkswagen AG's choice to develop its own cheap electric vehicle instead of potentially partnering with Renault's software and EV unit Ampere. [Extracted from the article]

Renault SA is partnering with a Chinese company to develop a sub-€20,000 ($21,700) electric car called the Twingo, which is set to be sold from 2026. The move is part of Renault's efforts to bring affordable electric vehicles to the market more quickly. The development of the car will be done with a Chinese partner to improve development lead time and costs, while styling and advanced engineering will be done in France. This partnership is also intended to help Renault learn how to accelerate electric vehicle development. European carmakers are facing pressure to update their lineups amid slow economic growth and declining subsidies for electric vehicles, while Chinese brands are expanding in the region with cheaper models. [Extracted from the article]

French battery startup Verkor has secured over €1.3 billion ($1.4 billion) in green loans to complete a plant in northern France. The new factory, which is under construction at the port of Dunkirk, will contribute to the growing electric vehicle (EV) ecosystem in northern France. Verkor has now received more than €3 billion in financing to build its first EV battery factory and a research center. The factory is one of five planned in France as President Emmanuel Macron aims to compete with China in the EV market. The site is expected to start operations next year with an initial capacity to supply around 200,000 vehicles annually. [Extracted from the article]

Renault SA is experiencing strong pricing and cost discipline, which is helping to offset a dip in demand for electric vehicles (EVs) in the market. The company has managed to lower costs while maintaining stable prices, resulting in higher margins for Renault and lower prices for customers. Renault is launching 10 new products this year, including the all-electric Renault 5, in an effort to attract more customers. Despite a slower EV market, Renault remains optimistic about the switch to electrification. The company is also in talks with rivals, including Volkswagen, about sharing the cost of developing a platform for more affordable EVs. [Extracted from the article]

Renault SA is experiencing strong prices and cost discipline, which is helping to offset slower demand for electric vehicles (EVs). The company has managed to lower costs and introduce new models with higher margins and lower prices for customers. Renault is launching 10 new products this year, including the all-electric Renault 5, in an effort to attract more customers. While the EV market is slower than anticipated, Renault remains open to partnerships, including with Volkswagen, for developing more affordable EV platforms. The company's first-quarter revenue exceeded analyst estimates, and Renault shares have seen a 43% increase in the past year. [Extracted from the article]

Renault SA's first-quarter sales exceeded expectations, with revenue reaching €11.7 billion ($12.5 billion). The strong sales were driven by demand for models like the Clio, Sandero, and electric Megane E-Tech. Despite a slump in electric vehicle (EV) demand in Europe, Renault reported that fully electric and hybrid vehicles accounted for 48% of its sales mix. The company has managed to lower costs and offer new models at a higher margin for them and a lower price for customers. Renault is also planning to launch 10 new products, including the all-electric Renault 5, to attract more customers. [Extracted from the article]

Renault SA has surpassed Nissan Motor Co. in market value, with investors rewarding the French carmaker for its efforts to distance itself from its struggling Japanese partner. Renault's shares have risen by 37% this year as CEO Luca de Meo leads the company to profitability and revamps its product lineup. Under de Meo's leadership, Renault has exited the Russian market, separated its electric vehicle and combustion-engine businesses, and formed new partnerships with companies like Qualcomm, Volvo, and Geely. In contrast, Nissan is facing challenges due to its outdated product line, lack of hybrid options in North America, and increased competition in China. Renault has been gradually reducing its ties with Nissan, selling off shares in the company, while Nissan continues to struggle. [Extracted from the article]

Renault SA and Nissan Motor Co. are continuing to reshape their alliance, with Renault planning to sell around 2.5% of its stake in Nissan for proceeds of up to €362 million ($391 million). This move is part of Renault's strategy to lower its stake in Nissan from 43% to 15% and regain its investment grade rating. Both companies are also pursuing separate partnerships outside of the alliance, which Renault Chairman Jean-Dominique Senard believes will strengthen the overall automotive alliance. Renault and Nissan are also investing $700 million to introduce six new models in India and create 2,000 additional jobs. [Extracted from the article]

Renault SA is selling a second tranche of its remaining stake in Nissan Motor Co., which could help the French carmaker improve its credit rating. The sale of around 2.5% of its holding is expected to generate proceeds of up to €362 million ($391 million) for Renault. This follows Renault's decision to scrap the planned initial public offering of its electric-vehicle and software arm Ampere. The two carmakers now have a direct cross-shareholding of 15% with lock-up and standstill obligations, allowing the alliance to continue on more equitable terms. [Extracted from the article]

Renault SA has introduced its electric R5 E-Tech city car, targeting the mass market in Europe. Priced at around €25,000 ($27,100), the Renault 5 E-Tech is the first car to be produced on the carmaker's new EV platform, which aims to reduce costs and attract consumers with lower prices. The vehicle offers a driving range of 400 kilometers (249 miles) on a single charge and includes features such as a digital voice assistant and a wicker basket for baguettes. Renault's CEO, Luca de Meo, sees the R5 as a crucial step in the company's transformation and hopes it will encourage more consumers to switch to electric vehicles. [Extracted from the article]

Renault has introduced the electric R5 E-Tech city car, priced at around €25,000 ($27,100), as it competes with Chinese rivals for the mass market in Europe. The car, which offers a digital voice assistant and a driving range of 400 kilometers (249 miles) on a single charge, is part of Renault's strategy to reduce costs and attract consumers who are deterred by high prices. The R5 will be delivered starting in September and will compete with the electric Citroën ë-C3, priced at €23,300, made by rival Stellantis NV. Renault's CEO, Luca de Meo, sees the R5 as a crucial step in the company's transformation and hopes it will encourage consumers to embrace electric vehicles. The car features French assembly and battery production, recyclable materials, and bi-directional charging. However, the transition to electric vehicles has faced challenges, including the revocation of government incentives and high vehicle prices. [Extracted from the article]

European automakers, including Volkswagen, Renault, and Stellantis, are considering partnerships with their competitors to produce cheaper electric vehicles and protect themselves from competition from Chinese rivals and Tesla. The slow adoption of electric vehicles and the intensifying competition have prompted these automakers to explore new strategies, such as pooling development resources and bundling businesses across borders. The European car industry faces challenges such as dropping government incentives, rising repair costs, and consumer frustration with climate policies. Failure to adapt to the shift towards electric vehicles could lead to upheaval in an industry that employs millions of people and contributes significantly to the EU economy. [Extracted from the article]

European carmakers, including Volkswagen, Renault, and Stellantis, are considering partnerships with their competitors to produce cheaper electric vehicles and protect themselves from competition from Chinese rivals and Tesla. The slow adoption of electric vehicles and the intensifying competition have created a sense of urgency for these carmakers to find new strategies. Tighter emissions rules in the European Union by 2025 and the entry of Chinese manufacturers into the market pose challenges for European carmakers. Failure to adapt could lead to upheaval in an industry that employs millions of people and contributes significantly to the EU economy. [Extracted from the article]

Renault CEO Luca de Meo has stated that bigger is not necessarily better in the auto industry, contradicting rival company Stellantis NV's stance on industry consolidation. De Meo believes that staying agile is crucial as new technology emerges and electric vehicle demand remains unpredictable. Renault is undergoing a transformation, including separating its EV assets from its traditional combustion-engine business and ending its alliance with Nissan Motor Co. De Meo is open to industry cooperation to share the expenses of the EV shift and is discussing joint EV platforms with other companies. [Extracted from the article]

Stellantis NV, the Jeep maker, announced plans for a new buyback and higher dividend, which caused its shares to rise to a record high. The company will repurchase €3 billion ($3.2 billion) of shares this year, in addition to last year's buyback. However, Stellantis also warned of a challenging year ahead due to higher costs, strikes in the US, and a drop in market share. The company plans to counter these challenges with new models and flexible options. Other carmakers, such as Renault SA, are also predicting solid returns despite the slowdown in electric vehicle demand. [Extracted from the article]

Renault SA, a French car manufacturer, has projected a solid operating margin of at least 7.5% for 2024, despite a slowdown in demand for electric vehicles. The company plans to introduce ten new models this year, including the all-electric R5. Renault's CEO, Luca de Meo, is focused on reducing the cost of new electric vehicles through partnerships, after scrapping a plan to sell shares in its EV and software business. The company is cautious about volume growth and is projecting free cash flow of at least €2.5 billion in 2024. Renault is also exploring collaborations with other automakers for developing affordable EV platforms. [Extracted from the article]

Renault SA, a French car manufacturer, is expecting flat returns this year due to sluggish demand for electric vehicles. The company plans to introduce ten new models, including the all-electric R5, in an effort to counter this trend. Renault's CEO, Luca de Meo, is focusing on reducing the cost of new EVs through partnerships after canceling a plan to sell shares in its EV and software business. The company is cautious about volume growth and is not anticipating growth in the automotive markets in Europe or Latin America this year. Renault is projecting a free cash flow of at least €2.5 billion in 2024. [Extracted from the article]

Renault SA has decided to cancel its plans to list its electric-vehicle business, Ampere, in what would have been one of Europe's largest initial public offerings this year. The French automaker cited unfavorable market conditions for the decision, as well as slower-than-expected demand for electric vehicles. Renault's CEO, Luca de Meo, had sought a valuation of €8 billion to €10 billion for Ampere, but improved cash generation and the cooling demand for EVs made the share sale unnecessary. The cancellation of the IPO comes amid a price war in the EV market and a rollback of buying incentives. [Extracted from the article]

Stellantis CEO Carlos Tavares believes that the rush to produce more affordable electric vehicles (EVs) will lead to a "bloodbath" in the auto industry. Tavares has been closely watching Renault, a company he sees as vulnerable due to the French state's ownership and influence. Renault recently called off its pursuit of an initial public offering for its EV business, which Tavares sees as a setback. He questions Renault's strategy and whether it will be able to compete with Stellantis, Tesla, and BYD. Tavares has taken a competitive stance against Renault, criticizing their EV business and arranging media events to coincide with Renault's briefings. While Tavares respects Renault CEO Luca de Meo, he does not plan to pursue a similar strategy. Tavares has been focused on consolidating Stellantis and positioning it as a winner in the industry's transition to EVs. [Extracted from the article]

Volkswagen and Renault have both decided to withdraw their plans to sell shares in their electric vehicle (EV) businesses due to slowing demand for EVs and a challenging market for initial public offerings (IPOs). The shift in plans highlights the complexities of transitioning to EVs as demand cools and subsidies fade. The IPO market had its worst year in over a decade in 2023, and Renault's decision to scrap the IPO of its EV and software arm Ampere was seen as a possible turning point. The difficulties faced by carmakers in adopting unfamiliar technologies and the impact of a price war initiated by Tesla are also contributing factors. [Extracted from the article]

Renault SA has decided to cancel its plans to list its electric-vehicle business, Ampere, due to a lack of interest in share sales and a slowdown in electric vehicle demand. The company cited unfavorable market conditions and stated that its strong cash generation eliminated the need for new funding. Renault had hoped to list Ampere in the first half of the year but faced delays. The decision comes as demand for electric vehicles has cooled, with several carmakers delaying the release of new models. [Extracted from the article]

Renault SA has decided to cancel its plans to list its electric-vehicle business due to a lack of interest in share sales and a slowdown in demand for electric vehicles (EVs). The company had initially planned to proceed with the IPO during the first half of the year but has now reversed course. This decision is part of Renault's effort to separate its battery-powered car production from its internal combustion-engine arm. The cancellation of the IPO comes at a time when other carmakers are also experiencing a decline in EV demand. [Extracted from the article]

Renault SA plans to revive its Twingo model as an electric car priced at less than €20,000 ($21,680) in an effort to compete with Chinese manufacturers in the European market. The redesigned Twingo, which will be developed over the next two years, aims to make electric vehicles more accessible and profitable in Europe. Renault also intends to release a Renault 5 model priced at €25,000 next year to counter Stellantis NV's plans to gain EV market share in Europe. However, some analysts remain skeptical about the success and profitability of these affordable EVs. [Extracted from the article]

Renault, a 125-year-old European carmaker, is aiming to build affordable electric vehicles (EVs) and make a profit from them. The company recently unveiled a battery-powered Twingo that will cost less than €20,000 and will compete with similar offerings from other carmakers. Renault's CEO, Luca de Meo, believes that this new model will be a game-changer and wants to make EVs accessible and profitable. The company also plans to list its EV and software business, Ampere, next year to raise funds for its reinvention. However, some analysts are skeptical about Renault's ability to bring cheap EVs to market quickly and the profitability of these models. [Extracted from the article]

Renault SA plans to revive the Twingo as an electric car in an effort to demonstrate its ability to quickly bring affordable plug-in models to the market. The redesigned Twingo will be available for less than €20,000 ($21,680) starting in 2026, making it a competitive option for affordable EVs in Europe. Renault's CEO, Luca de Meo, aims to make EVs accessible and profitable in Europe through the development of the new Twingo. However, investors remain skeptical about Renault's ability to deliver cheap EVs quickly, which has delayed the company's plans to list its EV business, Ampere, on the stock market. Renault also plans to introduce the Renault 5, priced at €25,000, next year to counter competition from Stellantis NV. [Extracted from the article]

Renault SA plans to sell a 28% stake in Nissan Motor Co. as part of its electric-vehicle development plan, which includes an initial public offering (IPO) of its EV arm Ampere. The stock sales could begin in early 2024 and will be coordinated with Nissan. The funds from the stake sale, worth about €4.3 billion, could be used to accelerate the development of cheaper EVs and compete with rivals like Tesla Inc. Renault is also considering other options for Ampere, including a spinoff, if the IPO does not meet valuation expectations. Ampere aims to introduce a compact, Europe-made EV called Legend, priced below €20,000, to cater to the demand for more affordable cars in the region. The IPO may face challenges due to a difficult market for listings and intense competition in the EV market. Nissan and Mitsubishi Motors Corp. plan to invest up to €800 million in Ampere, and Qualcomm Inc. is also considering an investment. If the IPO is shelved, Mitsubishi and Nissan would still invest in Ampere in a different form. Renault and Nissan have loosened their ties after a strained alliance in recent years. [Extracted from the article]

Renault SA is aiming to generate over €10 billion ($10.9 billion) in revenue by 2025 for its electric-vehicle and software arm, Ampere, which it plans to list in an initial public offering (IPO) in April or May of next year. Ampere intends to introduce a compact, Europe-made EV called Legend, priced at less than €20,000, in response to the demand for more affordable cars in the region. Despite a challenging market for IPOs, Renault CEO Luca de Meo is targeting a valuation of €8 billion to €10 billion for Ampere, positioning it as a European competitor to Tesla and Chinese EV manufacturers. [Extracted from the article]