New squad for the upcoming game: Ampere
In the second half of 2023, the Ampere Executive team is set to reveal more details about their plans at a dedicated Capital Markets Day. This subsidiary of Renault Group, led by Luca de Meo, the CEO of Renault Group, aims to make a significant impact in the electric vehicle industry.
Luca de Meo, who will also head Ampere's executive team, has expressed confidence in the subsidiary's assets, citing one of the most integrated EV value chains in the industry, a pioneering approach to Software Defined Vehicle, and state-of-the-art engineering and manufacturing capabilities.
Ampere has ambitious financial targets, aiming for operating profit and free cash-flow breakeven as early as 2025, and a double-digit margin in 2030. The subsidiary is also targeting a 30% compounded annual revenue growth rate (CAGR) until 2030.
Josep Maria Recasens and Vincent Piquet are set to join Ampere as Chief Operating Officer and Chief Finance Officer, respectively. The company is aiming for a 90% battery-to-wheel e-powertrain efficiency and is reducing costs by 40% on a car-by-car basis in the next vehicle generation by 2027+.
Ampere's growth story is built on one of the best EV and Software ecosystems in Europe. This includes outstanding EV value chain coverage, state-of-the-art technologies, outstanding software capabilities, deep partnerships with innovative companies, a unique manufacturing ecosystem in France, and Renault brand's 95% awareness and field presence with 4,700 dealerships across Europe.
The subsidiary is also focusing on offering a choice between digital and physical customer experiences, a smooth charging experience with a dense European network, and enhanced car reselling value thanks to full lifecycle management and SDV upgradeability.
In terms of battery technology, Ampere is exploring current and upcoming options, including sodium ion and solid state. The carve-out of Ampere is expected to be completed in H2 2023, and the line-up will include instant classics like the Megane E-Tech electric, Scenic E-Tech electric, Renault 5 (2024), and Renault 4 (2025).
Ampere is assembling a team of around 10,000 highly skilled people, of which one third engineers, to compete with the best EV and software teams. The team is developing an innovative, cost-efficient, and open Software Defined Vehicle architecture.
However, at the time of writing, no new information about Ampere's financial objectives or expected listing has been provided. Stay tuned for more updates from Ampere as they continue to shape the future of electric vehicles and software.
