Japanese carmaker Mitsubishi will invest up to €200m (R4.051bn) in the new electric vehicle unit of French counterpart Renault, Mitsubishi said on Tuesday.
Mitsubishi said in a statement it is seeking to improve its EV development technology and expand its line-up of battery-powered vehicles with the investment in the Renault EV unit, Ampere.
Its decision to invest in Ampere comes after Mitsubishi's partners, Renault and Nissan Motor, finalised a restructured alliance in July.
Nissan has already committed to invest up to €600m (R12.16bn) in the unit, consistent with it being a strategic investor and securing a board seat on the new company.
Mitsubishi to invest up to €200m in Renault's new EV unit
Japanese carmaker Mitsubishi will invest up to €200m (R4.051bn) in the new electric vehicle unit of French counterpart Renault, Mitsubishi said on Tuesday.
Mitsubishi said in a statement it is seeking to improve its EV development technology and expand its line-up of battery-powered vehicles with the investment in the Renault EV unit, Ampere.
Its decision to invest in Ampere comes after Mitsubishi's partners, Renault and Nissan Motor, finalised a restructured alliance in July.
Nissan has already committed to invest up to €600m (R12.16bn) in the unit, consistent with it being a strategic investor and securing a board seat on the new company.
READ MORE