EU Approves €90 Billion Ukraine Aid as Frozen Russian Asset Plan Stalls 
Volaris and Viva Agree to Merge, Creating Mexico’s Largest Low-Cost Airline Group 
ANZ New CEO Forgoes Bonus After Shareholders Reject Executive Pay Report 
Japan Exports to U.S. Rebound in November as Tariff Impact Eases, Boosting BOJ Rate Hike Expectations 
Chinese Robotaxi Stocks Rally as Tesla Boosts Autonomous Driving Optimism 
Instacart Stock Drops After FTC Probes AI-Based Price Discrimination Claims 
Micron Technology Forecasts Surge in Revenue and Earnings on AI-Driven Memory Demand 
Dina Powell McCormick Resigns From Meta Board After Eight Months, May Take Advisory Role 
Trump Defends Economic Record in North Carolina as Midterm Election Pressure Mounts 
OpenAI Explores Massive Funding Round at $750 Billion Valuation 
RBA Unlikely to Cut Interest Rates in 2026 as Inflation Pressures Persist, Says Westpac 
FDA Fast-Tracks Approval of Altria’s on! PLUS Nicotine Pouches Under New Pilot Program 
Boeing Seeks FAA Emissions Waiver to Continue 777F Freighter Sales Amid Strong Cargo Demand 
BoE Set to Cut Rates as UK Inflation Slows, but Further Easing Likely Limited 
Russia Stocks End Flat as Energy Shares Support MOEX Index 
Delta Air Lines President Glen Hauenstein to Retire, Leaving Legacy of Premium Strategy 
Renault Group, the French automotive powerhouse, has formed Ampere, a spinoff company dedicated to electric vehicles. The group has announced plans to list Ampere on the stock market and appointed its current CEO, Luca de Meo, to lead the new entity.
Renault announced on Monday, June 19, that it had assigned its own chief, Luca de Meo, to be the chairman and CEO of its Ampere EV business. It was mentioned that the spinoff unit is part of De Meo's scheme as he reorganizes Renault so it can compete much better in the electric vehicle market and software-defined cars.
The French automobile manufacturer based in Boulogne-Billancourt, France, is set to list Ampere on the stock market and to prepare for this move, the assignment of De Meo as its CEO is needed. In addition, Renault revealed that the company's board of directors had formed an ad-hoc committee headed by Jean-Dominique Senard. The group's main function is to manage the planned initial public offering (IPO) of Ampere, as per Reuters.
"Thanks to work done in the Renault Group over the past 2 years, Ampere is about to hit the ground running, supported by unmatched assets from Day 1: one of the most integrated EV value chains in the industry, a pioneering approach to Software Defined Vehicle, and state-of-the-art engineering and manufacturing capabilities," Renault Group's CEO Luca de Meo said in a press release. "Combining the agility of a pure player with the strengths of an established OEM makes Ampere unique. Now, we go to execution mode. The more we focus the more obvious the opportunities become for Ampere to spearhead the shift to electric and software."
He added, "Targeting a 40% cost reduction in the generation of the next vehicle, setting tech and innovation at the core of Ampere's organization, delivering appealing products at the best price: this is all in line with our tradition to democratize technology and create value for our stakeholders."
Photo by: Sébastien Chiron/Unsplash
