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Renault’s partners Nissan and Mitsubishi plan to invest in Ampere, the electric vehicle division of the French automaker, to develop and produce electric vehicles for the European market.
Nissan and Mitsubishi are investing 600 million euros and 200 million euros, respectively, and the company has been spun off from other Renault companies and is expected to go public next year.
Ampere will develop an electric version of the Nissan Micra for the European market and a mid-size electric SUV for Mitsubishi. Renault’s CEO said Ampere will reduce the production cost of the Nissan Micra by 50 percent.
The alliance partners also confirmed joint projects in Latin America and India, a move that is part of a partnership alignment to be more flexible and adapt to regional differences in the automotive market.
(Source: Reuters Image source: Unsplash)
