Mitsubishi Motors to invest around 20 billion yen into Renault’s new EV company – Nikkei

TOKYO : Japanese automaker Mitsubishi Motors plans to invest into the new electric vehicle unit of Renault, with the investment expected to be about 20 billion yen ($133.8 million), the Nikkei newspaper reported on Tuesday.

Spokespeople for Mitsubishi were not immediately available to comment on the report.

A decision by Mitsubishi to invest into the EV unit, named Ampere, would come after its partners Renault and Nissan Motor finalised a restructured alliance in July.

Nissan, as part of that move, committed to invest up to 600 million euros ($640.86 million) in the unit, consistent with it being a strategic investor and securing a board seat on the new company.

($1 = 149.6000 yen)

($1 = 0.9362 euros)