PARIS French car maker Renault will not go ahead with an initial public offering of its electric vehicle unit Ampere, planned for next year, if the valuation is too low, Renault chief executive Luca de Meo said on Wednesday.

"We are not crazy," de Meo told reporters ahead of an investor presentation aimed at drumming up support for the IPO.

(Reporting by Gilles Guillaume and Silvia Aloisi, editing by Richard Lough)