Nissan and Renault revamp alliance with $663 million EV investment
Enlarge / The Renault Zoe (left) and Nissan Leaf (right) were two early mass-market EVs. (credit: Nissan)
Nissan has agreed to invest $663 million (600 million euros) in Ampere, Renault's electric vehicle operation, the two companies announced today. It's a sign of a renewed alliance between the two automakers that have been in a partnership since 1999, but relations have strained following the 2019 arrest of Nissan CEO Carlos Ghosn.
"With the finalization of the definitive agreements, we have entered the next phase of collaboration with Renault and Mitsubishi Motors in mutually beneficial areas of innovations," said Nissan CEO Makoto Uchida. "This will create additional value through initiatives aligned to Nissan's Ambition 2030 and electrification strategy. The investment opportunity in Ampere complements and strengthens Nissan’s ongoing electric push in Europe and will deliver numerous synergies, including cost efficiencies, regulatory compliance, and a broader range of EV products and powertrains."
Both Nissan and Renault have been early entrants into the EV market, with more than a million Nissan EVs sold since 2010 and about 300,000 Renault Zoes delivered since that car went on sale in 2012.