Nissan, Mitsubishi Invest in Renault's Ampere EV Unit

Jawad

07 Dec 2023

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Nissan, Mitsubishi Invest in Renault's Ampere EV Unit

Nissan and Mitsubishi, longstanding partners, have officially announced their commitment to investing in Renault's electric vehicle unit, Ampere. The primary objective of this collaborative effort is to develop electric vehicles customized for the European market and beyond.

In terms of financial commitments, Nissan is set to invest up to €600 million, while Mitsubishi is contributing €200 million to Ampere. This dedicated electric vehicle unit, now separated from Renault, is slated for a forthcoming public listing. Nissan will play the role of a "strategic investor" in Ampere and may explore opportunities to leverage the EV unit's software and connectivity innovations in markets beyond Europe.

A significant outcome of this partnership is the development of an electric version of the compact Nissan Micra tailored for the European market by Ampere. Additionally, Ampere is working on a medium-sized electric SUV for Mitsubishi. Renault CEO Luca de Meo highlighted that Ampere's involvement is expected to substantially reduce production costs for the Micra, potentially cutting them by up to 50%.

The collaboration extends beyond the European market, with the alliance partners confirming joint projects in Latin America and India. The decision to terminate their common purchasing agreement in September reflects a strategic shift to focus on individual projects and adapt more efficiently to regional differences.

Mitsubishi sees an opportunity to embrace electrification while maintaining reasonable development costs, with plans to market the EVs acquired from Ampere primarily in Southeast Asia and Europe.

Renault has ambitious plans for Ampere, aiming to spin off its EV business and conduct an initial public offering in 2024, while retaining over 50% of Ampere's shares. With the participation of Nissan and Mitsubishi, this three-way alliance seeks to address the increasing demand for EVs and the growing importance of software-intensive vehicles. Qualcomm, the US chipmaker, has also expressed interest in investing in the EV venture, underscoring the global significance of this collaborative effort.

Nissan Mitsubishi Renault Ampere EV Unit Renault Nissan Mitsubishi Partnership Automotive Collaboration Auto News Ampere EV Unit Nissan and Mitsubishi Mitsubishi and Nissan

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