Mitsubishi Corporation is stepping up its electric vehicle (EV) game with a significant investment in Renault's EV unit, Ampere.

The Japanese automaker plans to infuse up to 200 million euros (about $214 million) into Ampere to enhance its EV development technology and expand its lineup of battery-powered vehicles.

This move follows the restructuring of the alliance between Mitsubishi, Renault, and Nissan Motor Corporation, solidifying their commitment to advancing EV technology and production.

Nissan has already pledged 600 million euros to the unit. Ampere is poised to become a major player in the EV market, with Renault CEO Luca de Meo suggesting a potential valuation of up to 10 billion euros.

With an increasing focus on EVs, Mitsubishi’s investment in Ampere is a strategic step to strengthen their position in the growing electric vehicle market and foster international collaboration.

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Source: https://europe.autonews.com/automakers/mitsubishi-will-invest-renault-ev-unit-ampere