Nissan and Mitsubishi to invest in Renault’s EV unit Ampere

December 6, 2023 9:55 AM EST

Nissan and Mitsubishi announced Wednesday, plans to invest in long-standing partner, Renault’s electric vehicle unit called Ampere. The two automakers confirmed plans to use Ampere to develop EVs for the European market.

Following years of tense collaboration, the recent announcement confirms a new, more streamlined alliance among the trio of automakers, placing a stronger emphasis on regional collaboration.

Specifically, Nissan and Mitsubishi have confirmed their individual commitments to invest up to 600 million euros ($647.46 million) and 200 million euros, respectively, into Ampere. This division, carved out from Renault, is scheduled for a public listing in the coming year.

Makoto Uchida, CEO of the Japanese carmaker, outlined Nissan's intention to become a "strategic investor" in Ampere. He expressed interest in potentially leveraging the EV unit's software and connectivity advancements in markets beyond Europe, indicating a broader application of these innovations.

"Developing electric vehicles all over the world alone would be very challenging," said Uchida.

Ampere will undertake the development and production of an electric variant of the compact Nissan Micra tailored for the European market. Additionally, the company will focus on creating a medium-sized electric SUV specifically designed for Mitsubishi.

Ampere CEO, Luca de Meo stated that his company will cut the costs for the Micra for Nissan by up to 50%.

The alliance partners also affirmed their collaborative ventures in Latin America and India.

By Michael Elkins | [email protected]

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