Renault CEO: Ampere unit start timing is “ideally” by end of 2023

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PARIS (Reuters) – Renault (EPA:RENA)’s preparation efforts for carving-out its combustion engine unit are going “smoothly” and should be completed by the summer, Chief Executive Luca de Meo said on Thursday.

Asked on the timing for Renault’s planned new electric vehicle business dubbed “Ampere”, de Meo said it should be ready by the end of 2023, but would still be “depending on market conditions.”