Nissan And Renault Reach Investment Agreement In Ampere Electric Vehicle Business

Renault 5 EV Prototype Car. (Doc. Renault)

JAKARTA - Nissan and Renault on Wednesday, July 26, finally announced that they had reached an agreement on investing in Ampere's electric car business, after months of negotiating.

Nissan and Renault, Reuters reported, July 26, have completed their partnership terms and committed to investing up to 600 million euros or nearly IDR 10 trillion in Ampere's business, a new self-sufficient company created by Renault Group for electric vehicles and software activity. Ampere is taken from the name of French physicist and mathematician

The agreement on the terms of the reshuffled partnership will place these two automotive companies in an equal position on issues such as the division of intellectual property rights ownership in the future.

Nissan said investment in Ampere was in line with Nissan's role as a strategic investor and the control of board seats in a new company.

According to Reuters, Ampere's own value could reach up to 10 billion euros. This means that Nissan's 600 million euros investment in Ampere is only about 6% lower than the 15% previously announced as the maximum part of February.

Nissan's Chief Executive Officer, Makoto Uchida, said in a statement that investment in Ampere would complement and strengthen Nissan's efforts to deliver electric vehicles in Europe.

The two companies stated that this reshuffle still had to be approved by regulators and was expected to be completed in the fourth quarter of 2023.

With this deal, Renault confirmed his commitment to reducing his shares in Nissan from about 43% by transferring his 28.4% Nissan shares to a trust trust in France, which would put these two automotive companies in the same position.