te Mitsubishi Motors to invest up to 200 million euros into Renault's new EV unit | Zee Business

Mitsubishi Motors to invest up to 200 million euros into Renault's new EV unit

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.

Mitsubishi Motors to invest up to 200 million euros into Renault's new EV unit
Its decision to invest in Ampere comes after Mitsubishi's partners, Renault and Nissan Motor, finalised a restructured alliance in July. (Image credit: Reuters)

Mitsubishi Motors will invest up to 200 million euros ($213.66 million) in the new electric vehicle unit of French counterpart Renault, 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 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.

Reported By: Reuters
Updated: Tue, Oct 24, 2023
01:41 pm
New Delhi, Reuters
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