Renault names Luca de Meo as head of Ampere EV unit

PARIS — Renault appointed its CEO, Luca de Meo, as the chairman and CEO of its Ampere electric vehicle business that the automaker is aiming to list on the stock market.

The Ampere spinoff is part of de Meo’s reorganization of Renault to compete better in EVs and software-defined cars.

The revamp includes pooling its legacy combustion-engine assets with Geely into a division called Horse and separately listing Ampere, its new entity for electric cars.

“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,” de Meo said in a statement on Monday.

Alliance partner Nissan will to buy a stake of up to 15 percent in Ampere under an agreement announced in February to reshape the automakers’ long-established partnership.

Ampere’s spinoff is envisioned to happen in the second half, Renault said.

Renault set up an ad-hoc committee, headed by its chairman, Jean-Dominique Senard, to oversee the Ampere’s initial public offering.

Reuters contributed to this report