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Nissan, Mitsubishi confirm investment plans in Renault EV unit

Credit: REUTERS/CHRISTIAN HARTMANN

Adds Nissan CEO quote, Nissan plans to take stake in Renault's circular economy business

PARIS, Dec 6 (Reuters) - Renault's long-standing partners Nissan 7201.T and Mitsubishi 7211.T still intend to invest in the French car maker's electric vehicles unit Ampere, according to a presentation by Renault on Wednesday.

Nissan and Mitsubishi confirmed they would invest respectively up to 600 million euros and 200 million euros in Ampere, which has been carved out from the rest of Renault and is due to list on the market next year.

Nissan will become "a strategic investor" in Ampere, Makoto Uchida, CEO of the Japanese car marker told reporters, adding the company may use innovations coming from the EV unit in software and connectivity in other markets outside Europe.

Nissan is also considering taking a stake in Renault's circular economy activity, the presentation showed.

(Reporting by Gilles Guillaume, writing by Piotr Lipinski, editing by Silvia Aloisi)

((silvia.aloisi@thomsonreuters.com; +393487607044; Reuters Messaging: silvia.aloisi.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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