Electric Vehicle

Nissan to Invest in Renault's EV Unit, Eyes Deepening Alliance

By Business OutstandersPUBLISHED: March 28, 17:35
akoto Uchida, CEO of Japan's Nissan Motor
Makoto Uchida, CEO of Japan's Nissan Motor

Nissan will invest in Renault's Ampere electric vehicle unit as part of its global electrification strategy, according to the company's CEO. Makoto Uchida, CEO of Japan's Nissan Motor, stated during a press briefing in Chennai, India that the company intends to deepen its partnership with Renault and, through that partnership, expand its presence in Europe.

Uchida confirmed that Nissan is considering investment in Ampere, Renault's EV business. In December, Nissan had agreed to invest 600 million euros in Ampere, though Renault later abandoned plans for an initial public offering of the unit due to unfavorable market conditions.

The Chairman of Renault recently said the decision would not delay investments from long-time partners Nissan or Mitsubishi. This was reiterated by Uchida during the press event.

Uchida and Renault CEO Luca de Meo noted during their visit to India, an important future growth market, that government support and ecosystem development will be needed for the transition to electric vehicles given the intense competition.

As the 91-year-old Nissan Motor looks to solidify its position in electrification, the company is also exploring opportunities for strategic collaboration with larger Japanese rival Honda Motor. Uchida stated a feasibility study is underway but provided no details on potential areas of cooperation.

The automakers have signed a non-binding agreement to evaluate joint development opportunities globally without restriction by region. Both companies will launch multi-seat electric vehicles under their respective brands in India with export potential, though the timing was not specified.​

 

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