Renault Group: Ampere: the European Challenger - Tech excellence
and operational focus to democratize EV
20231115_PR CMD Ampere VDEF_GB bis
Press Release November 15, 2023 |
|
AMPERE: THE EUROPEAN
CHALLENGER
Tech excellence and operational focus to
democratize EV
Live conference on November 15 at 14:00 CET, available on
www.renaultgroup.com
Boulogne-Billancourt, November 15th, 2023
- Ampere,
driving force of Renault Group’s transformation
- An Electric
Vehicles (EV) & software company, which designs, engineers,
manufactures and markets electric passenger cars under the Renault
brand in Europe
- Successful
carve-out accomplished on November 1st, 2023, making Ampere an
autonomous company and the first European EV and software pure
player
- Ampere is fully
dedicated to tackle the most important challenges of the automotive
industry’s transformation: zero-emission and software
development
- Ampere consists of
11,000 employees, of which 35% are engineers
- Robust assets for
which the majority of investments has already been
made: EV-native platforms, industrial ecosystem (EV &
software value chains and manufacturing footprint) and appealing
product line-up
- A growth
story thanks to cost advantage, complete product line-up, and
tailored customer experience
- Aiming to reach EV
/ ICE price parity ahead of competition thanks to a clear roadmap
to 40% cost reduction by 2027/2028 between the 1st and the 2nd
generation of C-segment electric vehicles
- Product line-up of
seven vehicles by 2031 at the heart of the European market:
Megane E-Tech, Scenic E-Tech, Renault 5, Renault 4, “Legend”,
and two additional vehicles
- Additional business
(vehicles and software) with other brands and partners such as
Alpine, Nissan and Mitsubishi Motors
- Competitive
advantages beyond the product to offer a tailored EV customer
journey: Renault brand awareness, distribution network, aftersales
network, EV charging ecosystem and financing solutions
- A story of
technology excellence, innovation and partnerships
- 35% of engineers of
which 1,800 leading software and system engineering talents to
deliver tech innovations
- Best-in-class
technological solutions with OpenR Link, already embedded in
Megane E-Tech and Scenic E-Tech
- Unique horizontal
approach based on partnerships with Google & Qualcomm
Technologies to save time and cost, reduce execution risk and
provide customers with the best solutions on the market
- 1st
Software-Defined-Vehicle (SDV) expected to be launched in 2026
- Ready from
Day 1, thanks to strong assets and Renault Group’s backing
- ElectriCity, a
geographically compact industrial ecosystem with high productivity
and low carbon emissions
- Unique ecosystemic
approach to cover the full EV value chain with limited investments
and technological agility through partnerships with the best
players for battery and e-powertrain development
- Structured and
highly mutually beneficial relationship between Renault Group and
Ampere
- ESG
native
- Ranked #1 by
Sustainalytics in the automotive sector1 and in the top 6th
percentile of all companies globally with a score of 12.8
- Ampere net zero
company target by 2035 and ElectriCity by 2025
- High standards in
terms of human rights, transparency, and ethics within the company
and throughout the supply chain
- Independent and
effective corporate governance, with 11 directors, experts in tech
and automotive, of which 1/3 will be independent
- Robust
financial profile, low-risk and high returns targets
- Growth strategy
with a target of ~1 million vehicles in 2031
- Targeted revenue of
€10bn+ in 2025 with four vehicles, reaching €25bn+ in 2031 with
seven vehicles, translating into a +30% CAGR2 between 2023 and
2031
- Targeted profit
& free cash flow breakeven in 2025, 10%+ operating margin in
2030 onwards and above 80% cash conversion3 in 2031
- Targeting an IPO in
H1 2024 provided favorable market conditions. Nissan and Mitsubishi
Motors, first cornerstone investors, investing in total up to
€0.8bn in Ampere. Qualcomm Technologies also considers investing.
Renault Group will keep a strong majority in Ampere’s capital.
“Ampere is an ambitious, holistic, and
structural response of the European industry to the challenges
coming from East and West.
In the true spirit of Renault, Ampere is
engineered to make electric and connected cars affordable for all,
addressing the imperatives of energy transition and seizing the
growth opportunities on the market.
Ampere is first about striving for technological
excellence and customer experience: two EV-native platforms, a
powerful line-up of seven cars, a new generation of centralized
electronic architecture, an advanced Android-based software suite,
and the most compact and efficient supply and manufacturing EV
ecosystem, all created in Europe.
The uniqueness of Ampere is based on an open and
horizontal approach with best-in-class partners, ensuring low-risk,
flexibility, and smart capital allocation to navigate a fast
changing and competitive environment.
Ampere combines the best of two worlds: the
experience and firepower of a leading carmaker and the agility and
innovation of a newcomer. Ampere is ESG in 3D, designed from
scratch reaching the highest standard in terms of decarbonization,
circular economy and fair transition.
I’m more than confident that the success of
Ampere relies on the expertise and enthusiasm of a highly diverse
team that has proven extremely effective in the last two years of
preparation.” said Luca de Meo, Chief Executive Officer of
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.
Ampere targets a 30% average annual growth of
revenues between 2023 and 2031. From 10 billion euros in 2025 with
4 vehicles, Ampere will target more than 25 billion euros of
revenue in 2031 with 7 competitive vehicles.
Thanks to its clear roadmap of 40% cost
reduction in one generation, Ampere will be able to gradually
reduce vehicles’ prices while improving margins. Indeed, benefiting
from the rolling start of Renault Group on EV and software, Ampere
provides a low-risk and high return financial profile with the
ambition to reach breakeven point in 2025 (both in operating margin
and in free cash flow) and targets an operating margin above 10%
from 2030 onwards. Beyond its own line-up, Ampere is also
designed to be a technological, manufacturing and business platform
for other brands which represents further upsides for Ampere.
The recent carve-out, successfully completed two
weeks ago, is a first significant milestone for us, and we are
preparing the next strategic move: the IPO is an opportunity to
further accelerate the development of Ampere without drawing on
Renault Group resources and it allows Renault Group to accelerate
on the roadmap to reward its shareholders.” said Thierry
Piéton, Chief Financial Officer of Renault Group
Ampere, driving force of Renault Group’s
transformation
Renault Group completed the first steps of its
‘Renaulution’ plan ahead of schedule, accomplishing the fastest
turnaround in the recent history of the automotive industry.
Announced in November 2022, the current
Revolution phase aims to transform Renault Group into a Next Gen
automotive company built on five focused businesses addressing the
new value chains arising from the transformation of the automotive
and mobility industry: electric vehicles (EV) & software, new
mobility services, circular economy, high-end vehicles in addition
to ICE & hybrid vehicles.
Ampere is the driving force of the Group’s
transformation: an autonomous company that designs, engineers,
manufactures and markets electric passenger cars under the Renault
brand in Europe. It aims to propel the Renault brand and position
it as a leader in the new era of reaching zero-emission and
software development.
Ampere’s ambition is to reach a double-digit
market share with a double-digit operating margin, addressing the
core vehicle segments in Europe by 2031.
On November 1st, 2023, Ampere ‘s carve-out was
successfully completed. From Day 1, Ampere comprises 11,000
employees, of which 35% are engineers, focusing on EV and software
technologies. Ampere benefits from strong assets for which most
investments have already been made, including two EV-native
platforms and a highly productive industrial ecosystem in France
with low carbon emission standards: ElectriCity and Cléon.
Its structure is lean and efficient, enabling
agile cooperation. Ampere is a data-driven company, built on
technology, thanks to core IT platforms, completely connected,
transparent and silo-breaking. It is led by a highly experienced
Leadership team with expertise from global tech giants and
international automotive companies.
A growth story thanks to cost advantage,
complete product line-up and tailored customer experience
Democratizing EV in Europe addressing a
broader customer base
As a leader in mid-size and compact cars in
Europe, Renault Group, and therefore Ampere, is well positioned to
address the B and C-segments that together are expected to
represent 75% of the European EV market by 2030. These segments are
forecast to grow by around 25% CAGR between 2023-2030.
To capture this opportunity, Ampere aims to
democratize EV in Europe, by reaching EV / ICE price parity before
competition in the B and C segments.
Ampere already has a major competitive advantage
with its two EV-native platforms that are cost effective by design
and fit-for-purpose:
-
AmpR Small platform for the B-segment (previously
CMF-B EV)
-
AmpR Medium platform for the C-segment (previously
CMF-EV)
Beyond these platforms, Ampere has a clear
roadmap to reduce its cost, based on a holistic EV system approach.
By 2027/2028, Ampere targets to reduce variable costs between the
1st and the 2nd generation of C-segment electric vehicles by 40%,
following a continuous trajectory, along 3 main levers:
-
EV engine (battery and
e-powertrain):
-
50% reduction on battery cost per vehicle for the same range
-
25% reduction on e-powertrain cost per vehicle
-
Vehicle (platform and upper body):
-
25% reduction in platform cost per vehicle
-
15% reduction in upper body cost per vehicle
-
Operational excellence allowing a reduction of 50%
of manufacturing and logistic costs
As a result of its continuous cost reduction
plan, a first major step has been reached with Scenic E-Tech which
is already at Total Cost of Ownership (TCO) parity with hybrid
vehicles. The EV/ICE price parity is expected to be reached by
2027/2028 with the 2nd generation (Megane-E-Tech and Scenic E-Tech
successors) while preserving margins. On the B-segment, Ampere will
start with Renault 5 in 2024 and Renault 4 in 2025 (starting price
of Renault 5 around €25k) and “Legend”, a new electric car below
€20k (car to be revealed at the Ampere Capital Markets Day).
A complete product line-up
To achieve this objective, Ampere benefits from
an exciting and competitive portfolio of A, B and C-segment cars
initially consisting of five vehicles:
-
Megane E-Tech, launched mid-2022, at a €38k entry
price, is the vehicle that has repositioned the brand in the EV
market and allows to conquer new customers (conquest rate from
competition above 50% in Europe). It has a 2.2% of market share in
the European EV market and is the number one car in the C-EV
segment in France. This car benefits from a best-in-class
infotainment and connectivity system: OpenR Link.
-
Scenic E-Tech, on the market early next year with
an entry price of around €40k, is the future of European family
cars. Sustainability is at the core of its design with up to 95% of
recyclable materials, offering a best-in-class range of over 625 km
WLTP and a TCO already at par with hybrid cars.
-
Renault 5, to be revealed in Q1 2024, is the
rebirth of an iconic model already recognized by the press and
social media. The Renault 5 will offer up to 400km of range for an
entry price at around €25k competing with core hybrid B-segment
cars. It will be equipped with the Reno avatar, a virtual copilot
packed with artificial intelligence, learning from its users every
day to better anticipate and answer their needs.
-
Renault 4, to be launched in 2025, will be the
reinterpretation of a universal car for the electric era. It will
be a car with top versatility capitalizing on the winning
ingredients of the Renault 5, such as the AmpR Small platform and
the infotainment.
-
“Legend”, unveiled today, is the fit-for-purpose
urban vehicle with no compromise: best-in-class efficiency with
only 10 kWh/100km, 75% lower CO₂ emissions than the average
European ICE car sold in 2023 over its lifecycle, zero tailpipe CO₂
emissions and lower raw materials consumption thanks to its compact
size. Made in Europe, the car will be offered at an entry price
below €20k (before subsidies) which will represent less than €100
per month for our clients.
This line-up will be extended with two
additional cars for the second generation, representing a total of
seven vehicles by 2031. From a target of ~300,000 vehicles sales in
2025, Ampere expects to sell ~1 million vehicles in 2031, reaching
a market share of ~10%.
Beyond its own line-up, Ampere is also designed
to be a technological, manufacturing and business platform serving
brands other than Renault thanks to the flexibility of the
manufacturing lines, the modularity of the two platforms and the
competitiveness of the cost base. Ampere will produce at least two
models for Alpine, the next Micra for Nissan and another model for
Mitsubishi Motors. Ampere will also support the Dacia
electrification journey and will provide software solutions for the
entire Renault Group.
A tailored customer experience beyond
the product
Beyond the product, Ampere offers an exciting
and reassuring customer journey. This is key as the EV market is
shifting from early adopters to mainstream customers. For that,
Ampere can rely on five strong assets from Day 1:
-
Renault brand awareness of 98%
-
Omnichannel customer experience: physical,
building on Renault Group’s 4,700 dealership sites with 30,000 EV
trained people all around Europe, and digital with the launch of a
100% online customer journey
-
Renault Group’s unique aftersales network
-
Comprehensive and sustainable charging solutions
at competitive prices at home or on the road
-
Mobilize Financial Services offers with financing
solutions ranging from simple subscription for a few days to full
leasing for several years
A story of technology excellence, innovation and
partnerships
Software-Defined Vehicle Tech
excellence
Moving to a centralized electronic architecture,
being connected to the cloud, and having high calculation and
connectivity capacities, SDV enables the permanent upgradeability
of the car. It also allows a significant reduction in chip costs,
an increase in the car’s residual value and it drives a stronger
customer loyalty.
Ampere can rely, from Day 1, on 1,800 leading
software and system engineering talents representing 50% of its
total engineering workforce. Coming from the acquisition of Intel
Europe in 2017, these engineers have strong expertise, facilitating
development together with best-in-class tech players, Qualcomm
Technologies and Google. Ampere’s team has developed a solution
with Google, already embedded in the Megane E-tech and Scenic
E-tech: OpenR Link. With this open approach, Ampere gets the best
of both worlds: it retains the ownership of the IP and car data in
Europe while benefitting from an environment that will ensure it
will give its customers access to the ever-expanding universe of
apps that make Google built-in so unique.
This horizontal approach enables Ampere to save
time, cost, and reduce execution risk. In addition to sharing
investments and securing competitive costs, it reduces development
time by 50%, putting the cost of development on par with Chinese
players and up to half of Western OEMs.
The first SDV is expected to be on the market in
2026.
Ready from Day 1 thanks to strong assets and
Renault Group’s backing
Unique ecosystemic approach to cover the
EV value chain
Ampere benefits from a unique ecosystemic
approach to cover the full EV value chain with limited investments
and technological agility, through partnerships with the best
players for battery and e-powertrain development. Ampere is also a
pioneer in zero-rare-earth e-powertrain.
ElectriCity, local-for-local industrial
footprint
Ampere’s manufacturing pole consists of four
high-tech factories, ready Day 1, with a total capacity of
400ku/year, scalable to 620ku/year by 2028:
-
ElectriCity:
-
Douai and Maubeuge, two assembly plants to produce Ampere’s line-up
and its partner’s models
-
Ruitz to produce battery cases and electric components
-
Cléon, being converted to become one of the biggest and most
competitive European e-powertrain production sites
ElectriCity is a unique and compact ecosystem,
grouping 75% of suppliers within a 300km radius and 75% of
potential customers within a 1,000km range. This allows a reduction
of logistic costs by 40%. Ampere’s manufacturing pole will deliver
best-in-class productivity with a car assembly time of 9 hours,
starting with Renault 5. Cost-wise, ElectriCity will be as
competitive as Eastern European plants by 2025.
ElectriCity’s carbon footprint (industry scope 1
and 2) will be net zero by 2025. This will be achieved by following
a clear decarbonization path based on the optimization of
utilization rates, right-sizing, optimized energy management thanks
to a 4.0 manufacturing system and digital tools combined with low
carbon energy.
Renault Group and Ampere, a highly
beneficial relationship for both sides
Ampere will leverage Renault Group’s other
business units. It will benefit from complete financing
capabilities (including insurance) from Mobilize Financial
Services, the mobility and energy services (including charging)
from Mobilize Beyond Automotive and the circular economy-related
services from The Future Is NEUTRAL.
Leveraging the Renault Group ecosystem - Renault
brand awareness, distribution network, manufacturing capabilities
and procurement scale - is estimated to lead to cost avoidance in
the magnitude of €15bn for Ampere.
This relationship between Renault Group and
Ampere will be reciprocal and balanced in terms of flows and
underpinned by clear arm’s length contractual agreements that fully
ensure both companies’ interests are respected.
|
Ampere Focus on EV & Software content |
Renault Group Support on non-EV/Software
specific |
Strategy |
- Line-up
strategy
-
Technology & innovations
roadmap
- Services offer
roadmap
|
-
Overall capital allocation
-
Renault brand consistency
|
Development |
- Design &
development of EV-specific and
software components
|
-
Design & development of components not
specific to EV and
software
|
Operations |
-
Manufacturing: Electricity +
Cléon
-
Sales & Operations Planning
-
Procurement (specifications)
-
Quality & IS/IT specific to Ampere
|
-
Supply chain operations (transport,
packaging)
-
Procurement (scale effect)
-
IT platforms
-
Quality standards
|
Sales & Marketing |
- Commercial
strategy for Ampere line-up
-
Expertise centers linked to EV customer journey (e.g.
charging)
|
-
National sales companies and dealer network steering
-
Operations for aftersales and financing
services
|
Support Functions |
- Light
support functions (that cannot be mutualized)
|
-
Mutualized support functions
|
ESG native
Ampere is truly ESG-native. Ampere’s ESG purpose
is based on three pillars:
-
Decarbonization beyond electrification, targeting
net zero company by 2035,
-
Circular economy to preserve resources, based on
The Future Is NEUTRAL and Mobilize,
-
Fair transition, with high ambitions in terms of
human rights and transparency in the supply chain, as well as being
an ethical and inclusive workplace.
Sustainalytics rates Ampere #1
in the automotive sector4 globally with a score of
12.8, over 4 points better than other pure EV players.
Targeting net zero company by
2035
Ampere aims to be a net zero company by 2035,
following a cradle-to-grave approach. The carbon neutrality roadmap
relies on:
-
Electrification: full EV line-up with zero tailpipe emissions,
-
Industry: targeted net zero for industry scope by 2025,
-
Usage: low-carbon energy charging, based on the IEA5 forecast,
and
-
Suppliers: objective to reduce its supplies’ emissions by up to
30%, and for battery sourcing by up to 35%, by 2030.
A new approach to suppliers
Ampere will streamline its panel of suppliers,
reducing it by around 40% while engaging in a long term and more
strategic relationship with its suppliers, seeking opportunities to
co-invest, co-create, and co-develop. Ampere will make sure this
ecosystem complies with the highest standards in terms of human
rights, transparency, and ethics.
Governance: leading the organization
independently
Ampere’s Corporate Governance will meet the
highest standards of independence and will be lean to ensure the
speed of decision and agility required to match its business model:
Ampere’s Board of Directors will count 11 directors with strong
expertise in tech and automotive, including four independent
directors (more than 1/3 of total directors), six Renault Group
directors (including the Chairman) and one Nissan director. It will
be chaired by Luca de Meo.
There will be three dedicated committees (Audit
& Risks, Nomination & Compensation, Strategy &
Sustainability).
Robust financial profile, low-risk and high
returns targets
A growth story
Ampere targets €25bn+ revenues in 2031 and 10%+
operating profit margin from 2030 onwards with a clear milestone to
reach its breakeven point in 2025 (operating margin and free cash
flow).
|
2023 |
2025 |
2031 |
Number of models |
1 |
4 |
7 |
Vehicle sales (in units) |
~45k |
~300k |
~1M |
Revenue |
~€2.8bn |
€10bn+ |
€25bn+ |
Operating profit as % of revenue |
<0 |
Breakeven |
10%+1 |
Note: 1) 10% operating margin from 2030
onwards
Revenues are expected to grow at a 30%+ CAGR6
between 2023 and 2031, from c. €2.8bn in 2023 to €25bn+ in 2031,
driven by:
-
Vehicle sales (targeted 90% of revenues in 2031;
~1 million vehicles) sustained by an increasingly affordable
line-up of 7 vehicles, as Ampere will deliver on its 40% cost
reduction roadmap between the 1st and the 2nd generation of
C-segment electric vehicles by 2027/2028.
-
Sales to partners include in particular EV and
software technologies sold to other brands of Renault Group,
Alliance members or external partners. Sales to partners represent
half of Ampere’s revenue in 2023 and is expected to be 20% in 2025.
By prudence, the business plan of Ampere only includes sales to
partners that are already contracted, which explains the gradual
decrease of its share of total revenue overtime. However, new
partnerships should represent a significant opportunity for Ampere
to develop its activity.
-
After-sales revenue will grow in line with the
increase of vehicles sold, helped by the fact that SDV will secure
a longer loyalty to the after-sales network and allow the offering
of new types of services to customers.
-
Other revenues include:
-
CAFE (Corporate Average Fuel Economy) credits sales to Renault
Group, as Ampere will produce most of the Group’s EV vehicles.
-
Revenues from new services (apps, connectivity, autonomous driving
add-ons and charging / energy services) projected to reach €500 per
year per vehicle, of which 60% for Ampere and 40% for Renault
Group.
Operating margin, breakeven in 2025 and
10%+ from 2030 onwards
Operating margin is targeted to reach breakeven
in 2025 and 10%+ of revenue from 2030 onwards on the back of 3 main
levers:
-
Volume and fixed cost absorption
-
Variable cost optimization, embodied in Ampere’s plan to reduce
costs by 40% between the 1st and the 2nd generation of vehicles by
2027/2028. It will allow and more than offset the decrease in
average selling price of the line-up as Ampere strives for EV / ICE
price parity
-
Distribution costs optimization, enabled by both the proximity of
Ampere’s customers and suppliers and the focus put on retail that
should represent more than 50% of its mix
Breakeven free cash flow in
2025
Thanks to its already largely invested business
model, Ampere targets to generate cash earlier than most
competitors with a targeted free cash flow breakeven as early as
2025. On the road to achieve this key milestone, Ampere’s cumulated
cash burn for FY 2024 and H1 2025 would amount to a maximum of
€1.5bn.
This effective cash management would translate
into a high >80% cash conversion rate7 in 2031.
From c. 25% of revenue expected in 2024, Capex
and R&D is targeted to be at 10% on average over 2024-2031 and
c.8% on the long-term.
Next steps
Renault Group has funded the first phase to
establish Ampere. This first phase was completed with Ampere’s
carve-out on November 1st, 2023. Ampere now enters a new phase of
acceleration of its development. Raising capital from a potential
IPO would enable Ampere to grow faster, more autonomously, without
further pulling on the Group’s resources and ultimately would
provide enhanced financial returns for Ampere’s investors and to
Renault Group.
With a potential IPO, Ampere would be fully
funded. A portion of the proceeds would fund capital expenditure,
R&D and potential external investments in particular in three
key areas:
-
The further strengthening of Ampere’s software value chain
capabilities
-
The acceleration of cost reduction activities, especially the
design and development of Ampere’s second-generation C-segment
platform
-
The development of new cars
Part of the proceeds are already secured with
the agreed investments of our first cornerstone investors: Nissan
and Mitsubishi Motors investing in total up to €0.8bn in Ampere.
Qualcomm Technologies also considers investing.
EV is a different sport requiring a differently
set up athlete. The creation of Ampere comes with a new work
culture, perfectly suited to the specificities of the EV ecosystem.
Ampere will benefit from a self-controlled Tech backbone, a
proprietary IP portfolio, and a highly skilled workforce. Its
dedicated management and governance will ensure full focus to
deploy a fully-fledged strategy to establish the European
front-runner on the fast-growing EV market.
Establishing Ampere as an autonomous entity has
already paid off with numerous cost reduction and other
operational initiatives. The transparency required by Ampere’s
potential listing would further reinforce full accountability of
Ampere’s management and workforce.
Ampere is the 1st European EV & software
player that comes with such a low-risk approach. It benefits from
the Renault Group ecosystem, and its unique horizontal approach
enables to deliver rapidly in a changing environment with less
investments.
Conclusion
Agile mindset, established with scale, designed to
deliver |
High growth |
|
Low risk |
|
Scarcity value |
1. Fast-growingEuropean
EVmarket(~25% CAGR 2023-30) |
|
2.
Excitingproduct
line-upWith 7 vehicles |
|
3. Uniquehorizontal
approachAcross EV & software value chain |
|
4.Competitive industrial
ecosystemClear path to40% cost reduction |
|
5. Agile
andWell-investedScale from Day 1 |
|
6. #1 ESG rating in
auto8 Top
6th
percentileall industries
(Sustainalytics) |
|
7. Only publicly listed
European EV & software OEMEurope for Europe |
Robust financial profile, low-risk and high returns
targets |
|
>30% growth (revenue CAGR
2023-2031) |
|
~1M unitsby 2031 |
|
Operating margin
Breakevenby 2025 10%+ from
2030 onwards |
|
80% of investments already spentfor first 4 models
|
|
Free cash flow Breakevenby
2025 >80% conversion rate9 by 2031 |
|
Alreadyc.700k EV sold > |
|
Fully funded at IPO |
RENAULT
GROUP INVESTORRELATIONS |
|
Philippine de
Schonen+33 6 13 45 68 39philippine.de-schonen@renault.com
|
|
|
RENAULT
GROUP PRESS
RELATIONS |
|
Rie Yamane+33 6 03
16 35 20rie.yamane@renault.com |
|
|
About Renault Group Renault
Group is at the forefront of a mobility that is reinventing itself.
Strengthened by its alliance with Nissan and Mitsubishi Motors, and
its unique expertise in electrification, Renault Group comprises 4
complementary brands - Renault, Dacia, Alpine and Mobilize -
offering sustainable and innovative mobility solutions to its
customers. Established in more than 130 countries, the Group has
sold 2.1 million vehicles in 2022. It employs nearly 106,000 people
who embody its Purpose every day, so that mobility brings people
closer.
Ready to pursue challenges both on the road and
in competition, Renault Group is committed to an ambitious
transformation that will generate value. This is centred on the
development of new technologies and services, and a new range of
even more competitive, balanced, and electrified vehicles. In line
with environmental challenges, the Group’s ambition is to achieve
carbon neutrality in Europe by 2040.
More information:
https://www.renaultgroup.com/en/
Disclaimer
This press release contains forward-looking
statements. All statements other than statements of historical fact
included in this press release are forward-looking statements.
Forward-looking statements give the current expectations and
projections of Renault Group and Ampere relating to their financial
condition, results of operations, plans, objectives, future
performance and business. These statements may include, without
limitation, any statements preceded by, followed by or including
words such as “target,” “believe,” “expect,” “aim,” “intend,”
“may,” “estimate,” “plan,” “project,” “will,” “should,” “would,”
“could” and other words and terms of similar meaning or the
negative thereof. Such forward-looking statements involve known and
unknown risks, uncertainties and other important factors beyond
Renault Group’s and Ampere’s control that could cause their actual
results, performance or achievements to be materially different
from the expected results, performance or achievements expressed or
implied by such forward-looking statements. These risks and
uncertainties include those discussed or identified under Chapter 4
of the Universal Registration Document of Renault Group, filed with
the French Autorité des marchés financiers (AMF) on 24 March 2022
and available on the Company’s website (www.renaultgroup.com) and
the AMF’s website (www.amf-france.org). Such forward-looking
statements are based on numerous assumptions regarding Renault
Group’s and Ampere’s present and future business strategies and the
environment in which it will operate in the future. Accordingly,
readers of this press release are cautioned against relying on
these forward-looking statements. These forward-looking statements
are made as of the date of this press release. In addition, the
forward-looking financial information included in this press
release has not been audited by Renault Group’s statutory
auditors.
This press release does not contain or
constitute an offer of securities for sale or an invitation or
inducement to invest in securities in France, the United States or
any other jurisdiction.
In 2023, we engaged Sustainalytics to perform a
broad-based Corporate ESG Assessment of Ampere, covering eight ESG
categories, including Carbon- Products and Services, Human Capital,
Business Ethics, Human Rights-Supply Chain, Corporate Governance,
Product Governance, Resource Use-Supply Chain, Carbon-Own
Operations. Sustainalytics assessed us as having an overall
indicative Corporate ESG Assessment score of 12.8, which places
Ampere in the Low risk category as of 16 August 2023. Our
indicative score would place us in both the top 2nd percentile of
Automobiles subindustry companies assessed by Sustainalytics and in
the top 6th percentile of all companies assessed by Sustainalytics.
Sustainalytics is a leading ESG research provider, who provides
research based on its independent methodology, and publicly
available information or non-confidential information from issuers.
While Sustainalytics exercised due care in compiling this Corporate
ESG Assessment, it makes no warranty, express or implied, regarding
the accuracy, completeness or usefulness of any facts or statements
included in this Corporate ESG Assessment, that Ampere has made
available to Sustainalytics for this purpose, in light of the
circumstances under which such facts or statements have been
presented, and assumes no liability with respect to the
consequences of relying on this information for investment or other
purposes. In no event this Corporate ESG Assessment nor any portion
thereof shall be considered as an offer to buy a security,
solicitation of votes or proxies, investment advice, expert opinion
or an assurance letter as defined by the applicable
legislation.
1 refers to companies in the Automobiles sub-industry
assessed under comprehensive model2 Compound annual growth rate3
Free cash flow as a % of operating profit4 refers to companies in
the Automobiles sub-industry assessed under comprehensive
model5 IEA : International Energy Agency6 Compound annual
growth rate
7 Free cash flow as a % of operating profit8 refers to companies
in the Automobiles sub-industry assessed under comprehensive
model9 Free cash flow as a % of operating profit
- Ampere Capital Market Day_Press Release
Grafico Azioni Renault (TG:RNL)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni Renault (TG:RNL)
Storico
Da Giu 2023 a Giu 2024