Nissan to buy up to 15% stake in Renault EV unit

NISSAN will buy a stake of up to 15 per cent in Renault’s electric vehicle (EV) unit, Ampere, the carmakers said on Monday (Feb 6).

The purchase is part of a redesigned alliance between the two companies, as well as Mitsubishi Motors. Nissan and Renault said that Mitsubishi would also consider investing in Ampere.

“Nissan’s intention is to invest up to 15 per cent in Ampere, Renault Group’s EV and software entity in Europe, with the aim to become a strategic investor,” they added.

They had earlier announced that, as part of the alliance’s new plans, Renault would transfer some of its Nissan shares – representing about a 28.4 per cent stake – into a French trust. This would reduce Renault’s stake in the Japanese company to 15 per cent, making the two more equal partners in the alliance.

The carmakers said that Renault would have full flexibility in selling the Nissan shares held in the trust, but it would have “no obligation to sell the shares within a specific predetermined period of time”. When the French company does sell the shares, “Nissan would benefit from a right of first offer, to its or the benefit of a designated third party”. REUTERS