The terms of Nissan and Renault’s restructured alliance were finalized on Wednesday, with the Japanese automaker pledging to invest up to 600 million euros ($663 million) in its partner’s Ampere electric vehicle division.
The two automakers will be on more equal footing as a result of the agreement to finalize the terms of their revised partnership, which brings to an end months of occasionally tense negotiations over issues like the division of future intellectual property.
According to Nissan (NSANF), the investment in Ampere is consistent with the company’s status as a strategic investor and recipient of a board seat.
Sources have said, Ampere could be worth up to 10 billion euros. Nissan’s investment in Ampere, of up to 600 million euros, would then be at a maximum share of approximately 6%, which is less than the maximum share of 15% it had previously indicated in February.
Ampere’s investment “complements and strengthens Nissan’s ongoing electric push in Europe,” according to a statement from Nissan Chief Executive Makoto Uchida.
The companies stated that the overhaul was subject to regulatory approvals and that completion was anticipated in the fourth quarter of 2023.
With the agreement, Renault (RNLSY) reaffirmed its commitment to reduce its stake in Nissan from about 43 % by transferring 28.4 % t of its Nissan shares into a French trust, which would level the playing field for the two automakers.
Source-CNN
