PARIS (Reuters) – French car maker Renault said on Wednesday its electric vehicles unit Ampere, which it plans to list on the market next year, will target 10 billion euros ($10.8 billion) in revenues in 2025, more than doubling to 25 billion euros in 2031.
The group set out financial targets for the unit, including an expected break-even in 2025 and an operating margin of at least 10% from 2030, ahead of an investor day meant to drum up support for the initial public offering slated for spring 2024.
Finance chief Thierry Pieton told reporters Renault would not sell off Ampere at a discount and would evaluate other options if market conditions did not make it possible to obtain the valuation for Ampere Renault is expecting.
($1 = 0.9195 euros)
(Reporting by Gilles Guillaume, editing by Silvia Aloisi)
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