Renault's EV Maker Ampere Sets $11 Billion Revenue Target as It Gears Up for IPO.

Renault's electric-vehicle and software company, Ampere, is aiming for an IPO and has set a revenue target of over 10 billion euros ($10.88 billion) in 2025. The company plans to sell around 300,000 vehicles that year and aims to sell 1 million vehicles by 2031, with a revenue target of over EUR25 billion. Ampere aims to achieve price parity between its electric cars and Renault's gas-powered cars by 2027 or 2028, and it expects to break even in terms of profit and free cash flow by 2025. The IPO is scheduled for the first half of 2024, and Renault will retain a majority stake in Ampere's capital. [Extracted from the article]