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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.
