Mitsubishi will invest up to 200 million euros in Ampere, an electric vehicle company founded by Renault

CTOnews.com, October 24, Japanese automaker Mitsubishi Motors announced today that it will invest up to 200 million euros (CTOnews.com Note: about 1.554 billion yuan) in Renault Group's newly established electric vehicles and software company, Ampere.

Mitsubishi said the investment was an ambitious step in its medium-term management plan announced in March 2023 and that Mitsubishi would invest in Ampere to improve its electric vehicle development technology and expand its electric vehicle lineup.

Tuyuan Pexels in July, Mitsubishi partner Renault and Nissan finalised a restructuring agreement and decided to invest in Ampere. As a first step in this cooperation, Ampere will supply electric vehicles in the European market in the form of OEM.

In addition, Nissan has pledged to invest up to 600 million euros (currently about 4.662 billion yuan) in the sector, which is also its commitment as a strategic investor and to win a seat on the board of directors of the new company.