TOKYO (Reuters) – Japanese carmaker Mitsubishi Motors said on Tuesday it would invest up to 200 million euros in Renault’s new electric vehicle (EV) unit.
In a press release, the Japanese group says it wants to develop its EV technology and expand its range of battery vehicles thanks to investment in Renault’s electric vehicle unit, called Ampere.
Jean-Dominique Senard, president of Renault, welcomed Mitsubishi’s decision, adding that he had always been convinced that the third partner of the Franco-Japanese alliance would take part in the diamond group’s electric entity project.
Asked on the sidelines of the Automotive Industry Day in Paris, he added that he would raise the subject with Mitsubishi directly in Japan, where he is due to fly soon.
Mitsubishi’s partners Renault and Nissan finalized their alliance overhaul in July.
Nissan has already committed to investing up to €600 million in the unit, which is in line with its status as a strategic investor and allows it to sit on the board of the new company.
(Reporting by Daniel Leussink and Mariko Katsumura, with the contribution of Gilles Guillaume in Paris; Kate Entringer, edited by Blandine Hénault)
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