Renault’s Ampere ambitions tested by choppy IPO, slow EV markets -sources

Weaker electric vehicle (EV) demand, increased competition from China and market volatility are complicating French carmaker Renault's plans to list its EV business Ampere, four people familiar with the matter told Reuters. Renault aims to extract more value from Ampere through an initial public offering (IPO) but is unlikely to go ahead if the final valuation falls below 7 billion euros, two of the sources said. Market conditions would make the IPO, now planned for next spring after being initially readied for the second half of 2023, difficult to pull off even at these valuations, they said.