Luca de Meo, CEO of the Renault Group, will lead the management team of Ampere, its subsidiary dedicated to electric vehicles and software. This appointment will be effective once the spin-off phase of Ampere is complete, scheduled for the second half of 2023. De Meo retains his current responsibilities as CEO of the Renault Group. And two key executives from Renault Group, Josep Maria Recasens and Vincent Piquet, will be named Directors of Operations and Financial Director of Ampere respectively. These appointments at the highest level of the group constitute the best support for Ampere’s innovative and profitable strategy, including its possible IPO.
“Thanks to the work carried out at the Renault Group over the past two years, Ampere is about to take off, supported by unrivaled head start advantages: one of the most integrated EV value chains in the industry, a pioneering software-defined vehicle approach (software defined vehicle) and advanced engineering and manufacturing capabilities. Combining the agility of a pure player with the strengths of an established automaker makes Ampere a unique player. Now we move on to action,” explains De Meo.
The more we specialize, the more obvious opportunities are created for Ampere in the race to electrical and software. Aiming for a 40% cost reduction for the next generation of vehicles, placing technology and innovation at the heart of the Ampere organization, offering attractive products at the best price: all this is in line with the tradition of democratizing the technology and value creation for our different partners”, he adds.
Specifically, Ampere is a value creation project, with a turnover compound annual growth rate (CAGR) target of 30% until 2030. With 80% of its investments already made, Ampere aspires to a profit of exploitation and free cash flow in equilibrium from 2025 with a double-digit margin in 2030. Over the past two years, the Renault Group has paved the way for Ampere’s ambitions. Thus, from day one, Ampere will be able to count on one of the best electrical and software ecosystems in Europe.
Above all, thanks to an exceptional coverage of the electricity value chain, thanks to a unique integrated approach that allows going from 10% in 2019 to 30% in 2022 and 80% in 2030. Also advanced technologies developed in the last 15 years of Renault leadership in the European electricity market, including two native electric platforms. It will become a unique manufacturing ecosystem in France (Electricity), with a capacity of 400,000 units from day one, a clear roadmap to reach 1 million units and productivity at the best level; 80% of suppliers located within 300 kilometers, guaranteeing responsiveness, profitability and unmatched limitation of the carbon footprint.
Likewise, there will be a reduction in costs by 40% per car for the next generation of vehicles in the horizon 2027 and beyond. A part of the necessary levers will already be integrated into the production of the Renault 5 (2024) and the Renault 4 (2025). Including exploration of current and future battery technologies, ranging from sodium ion to solid state. Finally, improvement of manufacturing productivity to the best levels, reaching less than 10 hours of production time per vehicle.
Beyond technology and competitiveness, Ampere will project the history of Renault into the future. It will build on a compelling range, including classics such as the 100% electric Megane E-Tech, 100% electric Scenic E-Tech, Renault 5 and Renault 4.
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