Mitsubishi to Invest Up to $200 Million in Renault's New Electric Vehicle Unit Ampere

Investment aims to enhance Mitsubishi's EV development technology and broaden its vehicle range, while offering Renault's Ampere unit a significant boost ahead of its expected 2024 public listing.

• Mitsubishi Motors is planning to invest up to $200 million in Renault's new Electric Vehicle (EV) unit, Ampere, aiming to enhance its own EV development technology and expand its vehicle range.
• Renault's Ampere unit, which currently only has the Megane E-Tech in production, is expected to go public in 2024 with a projected valuation of over $10 billion.
• The investment comes as part of Mitsubishi's strategic move within the Renault-Nissan-Mitsubishi Alliance, which it joined back in 2016.
• This investment follows Nissan's commitment to invest up to 600 million euros, holding a board seat in Ampere, underlining the importance of Ampere within the alliance.
• Despite pulling out of a Chinese SUV production deal and having a rather slow 2035 electrification target, Mitsubishi still retains a significant presence in the Japanese market, although it currently sells no EVs outside Japan.

3 Articles

Electrek Reuters CNA