Mitsubishi Motors to Invest €200 Million in Renault’s Electric Vehicle Unit
Mitsubishi Motors Joins Renault’s Electric Vehicle Unit
Japanese automaker Mitsubishi Motors has announced its plans to invest up to 200 million euros ($214 million) in Renault’s new electric vehicle unit. This move aims to enhance Mitsubishi’s electric vehicle (EV) development technology and expand its lineup of battery-powered vehicles. The investment will be made in Renault’s EV unit named Ampere.
Positive Response from Renault Chairman
Renault Chairman Jean-Dominique Senard expressed his satisfaction with Mitsubishi’s decision to invest in Ampere. He stated that he had always been confident in Mitsubishi’s participation in the project. Senard welcomed the collaboration and is looking forward to discussing the details during his upcoming trip to Japan.
Renault and Nissan’s Restructured Alliance
Mitsubishi’s investment in Ampere comes after the recent restructuring of the alliance between Renault and Nissan Motor. Nissan has already committed to investing up to 600 million euros ($640.98 million) in the unit, solidifying its position as a strategic investor and securing a board seat in the new company.
Plans to List Ampere as a Separate Entity
Renault aims to list its Ampere business as a separate entity on the stock market next year. This step will provide further opportunities for growth and development in the EV sector.
Mitsubishi’s Expansion Strategy
Mitsubishi’s decision to invest in Ampere aligns with its strategy to strengthen its presence in the electric vehicle market. The company has faced challenges in China, the world’s largest car market, due to fierce competition from local rivals. By collaborating with Renault, Mitsubishi hopes to improve its market position and increase its market share in the EV segment.
Investment Details
- Mitsubishi Motors will invest up to 200 million euros ($214 million) in Renault’s EV unit, Ampere.
- Nissan has already committed to investing up to 600 million euros ($640.98 million) in Ampere.
Mitsubishi’s investment in Renault’s Ampere unit demonstrates its commitment to advancing its EV technology and expanding its battery-powered vehicle lineup. With a strategic alliance in place, Renault, Nissan, and Mitsubishi are set to strengthen their positions in the global electric vehicle market.
