Ampere, a pure Electric Vehicles (EV) and software company, recently concluded its Capital Market Day where it detailed out its plans to take on the European EV market and its future roadmap to net zero emissions. Carved out as an autonomous entity on November 1, the dedicated unit for Renault Group’s EV business in Europe plans to induct seven models in its lineup by 2031. These will include Megane E-Tech, Scenic E-Tech, Renault 5, Renault 4, ‘Legend’, and two additional vehicles.
The future EV line-up
The first of Renault’s new generation EVs to come in will be the Megane E-Tech, which made its debut in 2022, promising over 400 kilometres of range on a single charge. It will be followed by the Scenic E-Tech and Renault 5 in early 2024. The Renault 4 will join these models in 2025. The two additional EVs will be announced in 2027 and 2028, respectively. The highlight of the Market Day was the newly unveiled ‘Legend’ which has been designed to serve the urban commuters.
End-to-end EV services and additional business
Renault’s Ampere plans to offer an end-to end EV owning experience to its customers on the back of a strong distribution network, aftersales network, EV charging ecosystem and financing solutions. Besides building EV offerings for the Renault brand, Ampere will also provide support to other partner brands such as Nissan, Alpine and Mitsubishi Motors.
It will produce at least two new EVs for Alpine, an electric SUV for Mitsubishi, the next generation of the Nissan Micra, and give wings to the electrification plans of Dacia. It will also provide software solutions for the entire Renault Group. “With high-performance cars, competitive prices, a strong brand and high-quality services, Ampere is well positioned to catch the growth on the European EV market,” said Thierry Piéton, Chief Financial Officer at Renault Group.
Financial targets
Ampere is looking forward to a market listing in the first half of the next year, provided the market conditions are favourable. While Renault Group will keep a majority stake in Ampere’s capital, partners Nissan and Mitsubishi Motors will invest up to Euro 0.8 billion total in the EV entity. Qualcomm Technologies too is considering investing in Ampere.
The EV unit is targeting a revenue of 10 billion euros in 2025 with its first four vehicles, expanding it to 25 billion euros in 2031 with all seven vehicles. It aims to translate this into a 30% CAGR between 2023 and 2031. As for the sales figures, the company is targeting one million vehicles by 2031.