Nissan has confirmed that it will make strategic investments in Renault’s Ampere electric vehicle and software division.
Renault and Nissan announced earlier this year that they would adjust the current terms of their alliance, which date back to 2019.
Nissan will invest 600 million euros ($988 million) in Ampere and secure a seat on the board. Renault will continue to hold a majority stake in Ampere.
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The Japanese brand says the investment “aligns with Nissan’s electrification strategy and creates numerous potential benefits and synergies that complement Nissan’s own goals and initiatives in Europe and other potential markets.”
Renault Group has previously announced that Ampere will do so profitable within two years.
Renault Group CEO Luca de Meo will lead Ampere but will retain his duties at the French automaker.
Ampere is backed by “one of the most integrated EV value chains in the industry, a pioneering approach to Software Defined Vehicle and state-of-the-art engineering and manufacturing capabilities,” said De Meo.
The company estimates that its factory in northern France can produce 480,000 electric vehicles per year.
Renault will lean on its Ampere arm to meet its goal of being an all-electric brand in Europe by 2030.
The Renault Group aims to be carbon neutral in Europe by 2040 and globally by 2050.
Nissan’s financing of the company comes after Renault agreed earlier this year to reduce its stake in Nissan to 15 percent. The remaining 28.4 percent of the shares go to a French trust.
Until the shares are sold, the Renault Group will continue to benefit from the “economic rights” attached to these shares. The trust will gradually sell its shares in Nissan, as ordered by Renault in consultation with the Japanese automaker.
Under the new Renault/Nissan terms, the Japanese company now has voting rights at Renault shareholders’ meetings.
Both companies have agreed to limit their respective voting rights to 15 percent on standard matters.
Renault and Nissan are still considering new projects in Latin America, India and Europe, with some plans already confirmed.
In Europe, Renault and Nissan want to work together on small electric cars in the Megane format, which are to be launched after 2026.
These vehicles will likely use an 800V architecture and will benefit from a new charging network to be deployed at Nissan and Renault dealerships.
Renault plans to launch a new electric FlexEVan in Europe in 2026, to be shared with Nissan. This continues a long-standing relationship between the two, with Nissan selling facelifted versions of Renault’s vans on the continent.
Across Latin America, Renault’s ‘new half-ton pickup’, potentially a replacement for the Duster Oroch, is being shared with Nissan. Meanwhile, the Nissan Frontier/Navara-based Renault Alaskan continues to be produced by Renault in Argentina.
Nissan will also produce a new Renault-branded model at one of its Mexican plants.
The two companies will jointly develop two city-friendly electric vehicles for sale in Latin America and India.
On the subcontinent, Renault and Nissan will be collaborating on a range of new crossovers, the first of which will be a Nissan-badged version of the Renault Triber.