Renault to Reintegrate Ampere EV Unit, Reversing 2023 Spin-Off

Renault Group plans to dismantle and reintegrate its electric vehicle and software unit, Ampere, into the broader company, reversing a flagship initiative of the Luca de Meo era as new CEO François Provost moves to simplify the automaker’s structure, cut costs, and accelerate execution, according to people familiar with the matter.

The reorganization would fold Ampere Holding—created as a standalone entity at the end of 2023—back into Renault, eliminating the separate governance framework established to support a planned public listing. That IPO was abandoned in early 2024 after failing to attract sufficient market valuation. Two sources told Reuters the plan has been presented to trade unions and is scheduled to take effect on July 1, with no impact on the employment status or contracts of most affected workers.

“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,” one of the sources said.

Ampere was established in November 2023 as Renault’s electric vehicle and software-defined vehicle (SDV) arm, employing around 11,000 people, roughly 35% of whom were engineers. The unit consolidated Renault’s electric mobility cluster, ElectriCity, in northern France, encompassing vehicle plants in Douai and Maubeuge, a component plant in Ruitz, and the powertrain facility in Cléon. Ampere also assumed production responsibility for electric models such as the Renault 4 and Renault 5—sold under the Renault brand—and later opened a software development center near Nice.

The spin-off was a cornerstone of former CEO Luca de Meo’s strategy to create what Renault described at the time as Europe’s first pure-play electric vehicle and software company. De Meo sought to bring alliance partners Nissan and Mitsubishi into the project and move rapidly toward an initial public offering. That plan stalled in January 2024, when Renault postponed the IPO, which was never rescheduled.

Subsequent developments further eroded the rationale for maintaining Ampere as an independent entity. In March 2025, Nissan was released from its commitment to invest €600 million (US$704.9 million) in Ampere. Two months later, in May 2025, a €200 million (US$204.9 million) investment agreement with Mitsubishi was terminated. By that point, Ampere was fully owned by Renault.

After de Meo left Renault in mid-2025 to join luxury group Kering, François Provost took over as CEO and launched a broad review of the group’s strategy and governance. Although Provost had previously supported the Ampere spin-off, people familiar with the discussions said he has since concluded that reintegration would better serve Renault’s operational needs now that the IPO has been shelved.

“This provides an opportunity to review governance and operations, simplifying and amplifying Ampere’s impact, while retaining the elements that made it successful,” one source said.

Under the new structure, Ampere is expected to operate as Renault Group’s advanced engineering and development hub for electric vehicles and software. Manufacturing assets previously transferred to Ampere—including ElectriCity’s factories in northern France and the Cléon plant—would revert to being direct subsidiaries of Renault Group.

The move marks the second major reversal of a de Meo-era initiative under Provost in less than two months. In December, Renault announced it would shut down the car-sharing services of its Mobilize subsidiary, reintegrating its remaining energy- and data-related activities into the group.

Ampere had already begun to lose autonomy ahead of the current decision. In September, leadership of the unit was placed under Renault Group Chief Technology Officer Philippe Brunet, signaling closer alignment with the parent company’s core engineering functions.