Reuters: Renault to dismantle Ampere after failed IPO

Renault reportedly plans to shut down its Ampere electric vehicle (EV) and software unit on 1 July, reintegrating its operations into the parent company. A 21 January report by Reuters reveals a major reversal of former Chief Executive Luca de Meo’s flagship strategy by successor François Provost , although no layoffs are currently expected.

The French automaker presented its reorganisation plans to labour unions on the same day the Reuters report was published. Despite the shutdown of Ampere as a distinct unit, none of its 11,000 employees are expected to face job cuts. 

The Amperre closure marks the second major reversal in under two months of ‘Renaulution’ initiatives launched by de Meo, who departed Renault in mid-2025. Renault previously announced back in December that it would discontinue car-sharing services and the vast majority of its charger deployment plans via subsidiary Mobilize. As reportedly the case with Ampere, most of Mobilize’ remaining operations were folded back into the parent company.

To the surprise of many industry observers, De Meo left Renault to become Chief Executive of luxury conglomerate Kering—which owns Gucci—after concluding that his mission to revitalise Renault was complete. De Meo believed he had succeeded in his transformation mandate, leading the automaker from significant losses to historic profitability and a strengthened position in electrification. 

In the year 2020 when he joined Renault, the company posted a net loss of €8.05bn (US$9.7bn); in the year preceding his departure it posted an adjusted net income of €2.8bn. His departure came as new electric models like the Renault 5 and the Megane E-Tech gained traction. The automaker sold 194,000 EVs in 2025, a 76.5% bump over 2024.

Ampere was central to De Meo’s Renaulution strategy, created in 2023 as Europe’s first pure-play EV and software company born from a legacy OEM. The former executive had sought a valuation for the unit in the region of €10bn through an initial public offering (IPO). However, the IPO plans were abandoned in early 2024 when investors failed to provide sufficient valuations due to scepticism about EV demand and the poor performance of other non-Tesla EV stocks. 

“As there is no longer an IPO, there is no longer a need for a specific entity, which is why Renault is reintegrating everything in order to simplify and eliminate the complexity inherent in the initial model,” a source close to the matter told Reuters. Several Ampere executives departed in recent months including Chief Financial Officer Vincent Piquet, who went on to join French cable manufacturer Nexans in the same capacity.

Ampere as a singular entity was intended to democratise EVs across Europe through lower costs, increased technology agility and external investment. De Meo positioned Ampere as the vehicle through which Renault would become a “next-generation car company” and shake off the baggage of being perceived as a legacy automaker.

Provost, who succeeded De Meo in July 2025 after 23 years at Renault overseeing procurement, partnerships and public affairs, is focusing his strategy on “rigour in execution” and “strategic agility”. Among his first moves was to appoint Philippe Brunet as combined Head of Engineering at both Ampere and Renault Group in September 2025, signalling a potential merger months before reports came to light in January. Provost plans to unveil his full five-year strategic plan in March 2026, expected to emphasise hybrid leadership in Europe alongside EV cost reduction.

No longer a distinct entity, Ampere will become Renault’s advanced engineering centre for EV and software development, encompassing wholly-owned subsidiaries Ampere Energy and Ampere Software Technology. The unit’s northern France plants at Douai, Maubeuge and Ruitz produce models including the Renault 5 supermini and Scenic SUV; now they will revert to direct parent company subsidiaries alongside the Cléon powertrain facility.