Nissan and Renault have unveiled details of their redesigned alliance, with the Japanese car maker committing to buy a stake of up to 15 percent in Renault’s electric vehicles business unit Ampere.
The alliance junior partner Mitsubishi Motors will also consider investing in Ampere.
“Nissan’s intention is to invest up to 15 percent in Ampere, Renault Group’s EV & Software entity in Europe, with the aim to become a strategic investor,” the statement said ahead of a presentation in London.
The companies had already announced that under the deal to revive their 24-year old alliance the French carmaker would reduce its stake in its Japanese partner to 15 percent from around 43 percent now.
Renault will transfer 28.4 percent of Nissan shares into a French trust, making the two more equal partners in the alliance.
The partnership will produce synergies from joint projects in Europe, India and Latin America, and the companies will work together in Renault’s flagship EV business, electronics and solid-state batteries.
Renault will have flexibility to sell the Nissan shares held in the trust but it has no obligation to sell the shares within a specific pre-determined period of time.