Nissan is set to purchase a stake of up to 15% in Renault’s electric vehicle subsidiary Ampere, the two companies announced on Monday, reviving a lengthy and sometimes controversial relationship that would also result in the creation of more common automobile platforms.
The agreement, reached after months of heated negotiations, involves the previously disclosed reduction of Renault’s investment in Nissan to put the two companies on a more equal footing, and extends for an initial period of 15 years a cooperation that began in 1999 and also includes Mitsubishi Motors.
The unequal relationship between the two automakers, which was further strained by the 2018 arrest of its architect and former chairman, Carlos Ghosn, in connection with a financial scandal, had long been a cause of discord among Nissan executives.
The magnitude of Nissan’s investment or even a solid pledge to invest in the EV operation, Renault’s flagship business that will soon be listed on the stock market, has not yet been disclosed.
The CEO of Mitsubishi, Takao Kato, stated that Ampere will be included in the business’s European EV plan and that the company will “further study” its stake participation.