Renault is aiming for an about €10bn valuation for the electric vehicle business the French carmaker is carving out as a stand-alone entity.valuation for the electric-vehicle business the French carmaker is carving out as a stand-alone entity, according to a person familiar with the matter.
Renault will brief investors about its revamp plans, which are being finalised, during a capital markets day on November 8.Ampere’s carveout has been at the heart of talks between Renault and Japanese partner Nissan Motor as the two companies seek to reshape a two-decade-old alliance. Nissan may invest $500m to $750m
The IPO would be subject to market conditions, the person familiar with the situation said. Recent turbulence in share prices has put a damper on new offerings.
Source: News Formal (newsformal.com)
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