Nissan continues to invest in Renault’s electric vehicle business

Nissan Motor President Uchida Makoto said that despite French automaker Renault having no plans to spin off its electric vehicle business, Ampere, the group will still invest in the project.

Nissan announced in December last year that it would invest 600 million euros in Ampere. At that time, some media reported that Renault would spin off Ampere. However, due to changes in the market environment, Renault indicated that it would not spin off Ampere for the time being.

Uchida Makoto pointed out at the event that Nissan hopes to become an important part of the global electric vehicle industry. In addition to collaborating with Honda Motor to expand the electric vehicle business, it will also invest in Ampere and strengthen cooperation with Renault.

In addition, Renault sold 2.5% of Nissan shares, expecting to raise 362 million euros, which is Renault’s second reduction in its stake in Nissan. Renault plans to reduce its stake in Nissan from 43% to 15%.

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