Nissan Plans $663-M Investment In Renault Unit

Nissan plans to invest 600 million euros ($663 million) in Ampere, Renault’s electric vehicle (EV) and software entity in Europe.

Photo Insert: The change will end a disparity that had caused friction between the automakers.

The two companies also seek to establish more equal cross-shareholdings in the French-Japanese auto alliance, they said Wednesday, Yuri Kageyama reported for the Associated Press (AP).

The change will end a disparity that had caused friction between the automakers.

Renault Group and Nissan will retain 15% cross-shareholdings in each other, and Renault will transfer 28.4% of its Nissan shares into a French trust, to keep voting rights of each side at 15% of the total, the companies said in a statement.

“The agreements that have been signed today allow us to step into the next chapter of the alliance,” said Jean-Dominique Senard, chairman of the alliance. The change is subject to regulatory approval.

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