Nissan Will Invest In New Renault EV Unit

The restructured alliance between Nissan and Renault is nearing completion according to Reuters, with the Japanese automaker promising to invest up to €600 million (US$663 million or RM3 billion) in its partner's Ampere electric vehicle unit.

The agreement to finalise the terms of their revised partnership puts the two automakers on a more equal footing, bringing to an end months of occasionally tense negotiations over issues such as the division of future intellectual property.

According to Nissan, the investment in Ampere is consistent with Nissan's role as a strategic investor and a board seat on the new company, could be worth up to $10 billion (RM50.5 billion).

Nissan's investment in Ampere would be around 6%, down from the 15% it had indicated as a maximum stake in February.

In a statement, Nissan chief executive Makoto Uchida said the Ampere investment “complements and strengthens Nissan’s ongoing electric push in Europe”.

The carmaker also stated that the overhaul would be completed in the fourth quarter of 2023, subject to regulatory approvals.