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Renault CFO: Nissan eyeing equity stake in electric and software unit Ampere

Published 11/08/2022, 04:43 AM
Updated 11/08/2022, 04:46 AM
© Reuters. FILE PHOTO: The logos of car manufacturers Nissan and Renault are pictured at a dealership Kyiv, Ukraine June 25, 2020. REUTERS/Valentyn Ogirenko/File Photo
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© Reuters. FILE PHOTO: The logos of car manufacturers Nissan and Renault are pictured at a dealership Kyiv, Ukraine June 25, 2020. REUTERS/Valentyn Ogirenko/File Photo

PARIS (Reuters) - Nissan (OTC:NSANY) is considering taking an equity stake in the Ampere unit, which could be listed on the stock market at the end of 2023, Renault (EPA:RENA) chief financial officer Thierry Pieton told an investor presentation on Tuesday.

The scale of Renault's planned overhaul- encompassing the gasoline engine business it has code-named "Horse" and the electric one code-named "Ampere" - speaks to the pressure automakers now feel from investors and regulators to quicken their move to electric vehicles, with Europe having effectively banned combustion engines from 2035.

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