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[1/2] A Mitsubishi Motors logo is displayed at the 89th Geneva International Motor Show in Geneva, Switzerland March 5, 2019. REUTERS/Pierre Albouy/File photo Acquire Licensing RightsTOKYO/PARIS, Oct 24 (Reuters) - Japanese automaker Mitsubishi Motors (7211.T) will invest up to 200 million euros ($214 million) in the new electric vehicle unit of French counterpart Renault (RENA.PA), Mitsubishi said on Tuesday. Mitsubishi said in a statement it seeks to improve its EV development technology and expand its lineup of battery-powered vehicles with the investment in the Renault EV unit, named Ampere. The decision to invest in Ampere comes after Mitsubishi's partners, Renault and Nissan Motor (7201.T), finalised a restructured alliance in July. Shortly before the announcement, the Nikkei newspaper reported Mitsubishi's investment into Ampere was expected to be about 20 billion yen ($133.85 million).

Persons: Pierre Albouy, Jean, Dominique Senard, Mitsubishi, Ampere, Renault's Senard, Daniel Leussink, Gilles Guillaume, Jacqueline Wong, Christian Schmollinger Organizations: Mitsubishi Motors, 89th Geneva, REUTERS, Rights, French, Renault, Mitsubishi, Renault EV, Nissan, Nikkei, Thomson Locations: Geneva, Switzerland, PARIS, Paris, Ampere, Japan, China, Tokyo

☆ Nissan to invest up to 600 million euro in new Renault EV unit
▼ + stars: | 2023-07-26 | by ( ) edition.cnn.com time to read: +1 min

Tokyo Reuters —Nissan and Renault on Wednesday finalized the terms of their revamped alliance, with the Japanese automaker committing to invest up to 600 million euros ($663 million) in its partner’s electric vehicle unit Ampere. The investment in Ampere is consistent with Nissan (NSANF) being a strategic investor and securing a board seat on the new company, Nissan (NSANF) said. Sources have said Ampere could be valued at up to 10 billion euros. That would put Nissan’s investment of up to 600 million euros in Ampere at about 6%, lower than the 15% it had flagged as a maximum share in February. With the agreement, Renault (RNLSY) confirmed its commitment to reduce its stake in Nissan from around 43% by transferring 28.4% of its Nissan shares into a French trust, which would put the automakers on equal ground.

Persons: Ampere, Makoto Uchida Organizations: Tokyo Reuters, Nissan, Renault, Wednesday Locations: Tokyo, Ampere, Europe

☆ Nissan to buy up to 15% stake in Renault EV unit under reshaped alliance
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Mike BlakePARIS, Feb 6 (Reuters) - Nissan (7201.T) and Renault (RENA.PA) on Monday unveiled details of their redesigned alliance, with the Japanese car maker committing to buy a stake of up to 15% in Renault's electric vehicles unit Ampere. The alliance junior partner Mitsubishi Motors (7211.T) will also consider investing in Ampere, the companies said in a statement. Renault will transfer 28.4% of Nissan shares into a French trust, making the two more equal partners in the alliance. Sources close to the matter said the agreement aimed to make the alliance freer and more balanced for the next 15 years. When it does sell, "Nissan would benefit from a right of first offer, to its or the benefit of a designated third party."

☆ Verkor raises 250 mln euros to fund EV battery megafactory
▼ + stars: | 2022-11-02 | by ( Nick Carey | ) www.reuters.com time to read: +2 min

LONDON, Nov 2 (Reuters) - French battery startup Verkor has raised 250 million euros ($248 million) from investors to fund a battery "megafactory" on its way to building a much larger plant to produce batteries for its customer Renault (RENA.PA), the company said on Wednesday. Verkor, which is based in Grenoble, said investors in the funding round included French bank Societe Generale (SOGN.PA), German industrial company Siemens (SIEGn.DE) and the European Investment Bank, which put in 49 million euros. The funding round comes after the company raised 100 million euros from investors in 2021. Verkor said that so far the company has been making several batteries a day in its lab in Grenoble. As well as perfecting its battery chemistry, the megafactory will help Verkor master production at scale and train people to eventually run the Dunkirk gigafactory, Lemaignan said.

The Renault CEO was scheduled to speak to reporters in Seoul on Tuesday evening, his first public appearance since news broke of the talks with Nissan. In exchange for its investment in Renault's EV unit, Nissan has asked Renault to take steps to sell down its 43% stake in Nissan, people with knowledge of the talks have said. Nissan has a 15% stake in Renault, as does the French government, but the Japanese automaker does not have voting rights. Nissan would also have to sign off on the plan for Geely to take a large stake in Renault's gas-engine business, code-named "Horse." Volvo and Geely created a joint-venture under the name Aurobay to shift their own combustion-engine business into a new stand-alone business.

☆ Nissan Confirms It Is in Talks Over Investment in Renault EV Unit
▼ + stars: | 2022-10-10 | by ( River Davis | Pierre Bertrand | ) www.wsj.com time to read: 1 min

Nissan, which has been mass-producing electric cars for more than a decade, is seen as holding the upper hand in the alliance in electric-vehicle technology. TOKYO— Renault SA and Nissan Motor Co. said Monday they were discussing ways to reinforce their partnership, including the possibility of an investment by Nissan in Renault’s new electric-vehicle unit. The discussions over the possible Nissan investment are part of broader talks by the two auto makers over reorganizing their alliance, which dates back more than two decades, people with knowledge of the talks said last week.

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