Mitsubishi Invests in Alliance Partner Renault BEV Production Plant

Mitsubishi’s relationship with Alliance partner Renault appears as strong as ever as it announces a $214 million investment into the French automaker’s new electric vehicle unit.

Mitsubishi says in a statement it seeks to improve its battery-electric-vehicle development technology and expand its lineup of battery-powered vehicles with the investment in the Ampere BEV production plant, Reuters reports. Its decision comes after Mitsubishi's partners Renault and Nissan finalized a restructured Alliance in July following the departure of the disgraced former Nissan CEO Carlos Ghosn.

Nissan has already committed to invest up to $641 million into the unit, consistent with it being a strategic investor and securing a board seat on the new Ampere company. Renault is looking to list this business as a separate entity on the stock market next year.

Mitsubishi’s statement reads: “As a first step of this collaboration, Ampere will supply an EV on an OEM (original equipment manufacturer) basis in the European market.”

Renault Chairman Jean-Dominique Senard, speaking on the sidelines of an event in Paris, says he welcomes Mitsubishi's investment and has always been confident the company would take part in Ampere. He adds that he intends to talk in more detail with Mitsubishi during an upcoming trip to Japan.