The boss of Renault has urged European investors to back its new electric vehicle arm set to float next year, as he set out plans to more than double sales by 2031, and claw market share from rivals including Tesla.
Chief executive Luca de Meo said the French carmaker had “many options,” including financing its EV offensive itself, as he laid out the strategy and ambitions of the new “Ampere” unit to win over sceptical investors ahead of a planned IPO in the first half of 2024.
Raising cash from investors would allow it to “accelerate” EV plans, which include seven new models that it believes will increase Renault’s share of the overall European market.
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