The agreement to conclude the terms of their overhauled partnership will put the two automakers on more equal footing. — Reuters
TOKYO: Nissan and Renault are finalising the terms of their revamped alliance, with the Japanese automaker committing to invest up to €600mil (US$663mil or RM3bil) in its partner’s electric vehicle unit Ampere.
The agreement to conclude the terms of their overhauled partnership will put the two automakers on more equal footing and caps months of sometimes tense negotiations over issues such as the sharing of future intellectual property.
The investment in Ampere is consistent with Nissan being a strategic investor and securing a board seat on the new company, Nissan said.
Sources have said Ampere could be valued at up to 10bil (RM50.5bil).
Nissan’s investment in Ampere would be at about 6%, lower than the 15% it had flagged as a maximum share in February.
In a statement, Nissan chief executive Makoto Uchida said the Ampere investment “complements and strengthens Nissan’s ongoing electric push in Europe”.
The companies said the overhaul was subject to regulatory approvals and completion was expected in the fourth quarter of 2023. — Reuters
