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Renault SA (OTC:RNLSY) (OTC:RNSDF) is reportedly expecting to list its electric vehicle business unit, Ampere, on the stock market in the spring of 2024.
Renault Chief Executive Officer Luca de Meo said the automaker was targeting November 1 of this year for Ampere to be separated from the rest of the company, according to a report from Reuters.
"So we separate and then we see if we have the right conditions to enter the market," said Luca de Meo.
On July 26, both Nissan Motor Co Ltd (OTC:NSANY) and Renault announced their restructured alliance, and a final deal contemplated by the binding framework agreement executed and announced on February 6, 2023.
As part of the cooperation, Nissan has committed to invest in Ampere up to Є600 million, consistent with being a strategic investor in Ampere and securing a board seat.
Price Action: RNLSY shares closed higher by 0.80% at $7.85 on Friday.
