French automaker Renault said its Ampere electric vehicle unit will see revenues more than triple to 10 billion euros ($10.8 billion) in 2025.
The group has set financial targets for the unit, including revenues of 25 billion euros in 2031, break-even in 2025 and an operating margin of at least 10% from 2030.
The company also revealed a smaller, more affordable electric model. It also defended its plans for a once-delayed IPO (initial public offering), now scheduled for next spring, despite mounting challenges.
The project has been impacted by slowing demand for electric vehicles, unstable markets and increased competition from China. Sources close to the deal told Reuters last month that Chief Executive Luca de Meo’s valuation of between 8 and 10 billion euros seemed a little too ambitious.
Source: Terra
Rose James is a Gossipify movie and series reviewer known for her in-depth analysis and unique perspective on the latest releases. With a background in film studies, she provides engaging and informative reviews, and keeps readers up to date with industry trends and emerging talents.
