Mitsubishi Motors to invest up to 200 million euros into Renault’s new EV unit
2023.10.24 03:33
© Reuters. FILE PHOTO: A Mitsubishi Motors logo is displayed at the 89th Geneva International Motor Show in Geneva, Switzerland March 5, 2019. REUTERS/Pierre Albouy/File photo
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TOKYO (Reuters) -Japanese automaker Mitsubishi Motors (OTC:) will invest up to 200 million euros ($213.66 million) in the new electric vehicle unit of French counterpart Renault (EPA:), Mitsubishi said on Tuesday.
Mitsubishi said in a statement it seeks to improve its EV development technology and expand its lineup of battery-powered vehicles with the investment in the Renault EV unit, named Ampere.
Its decision to invest in Ampere comes after Mitsubishi’s partners, Renault and Nissan (OTC:) Motor, finalised a restructured alliance in July.
Nissan has already committed to invest up to 600 million euros ($640.98 million) in the unit, consistent with it being a strategic investor and securing a board seat on the new company.
($1 = 0.9361 euros)
