The Renault Scenic electric vehicle (EV) at the Munich Motor Show (IAA) on Tuesday, September 5, 2023 in Munich, Germany.
Bloomberg | Getty Images
French carmaker stocks Renault Shares rose 5% in early trading on Tuesday after the company scrapped plans to publicly list its new electric vehicle and software business.
Renault said on Monday it would no longer hold an initial public offering for its Ampere unit, which Chief Executive Luca de Meo had previously positioned as 10 billion euros ($10.8 billion) Competitors Tesla According to the Financial Times, the Chinese electric car manufacturer.
Renault shares opened 5.13% higher on Tuesday and fell 1.7% at 8:30 am London time.
This is a breaking news story and is being updated.
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