Mitsubishi Motors Announces Investment in Renault Ampere Brand

October 26th, 2023 by

University Renault Nissan Mistsubishi Alliance

Back in early 2022, the announcement of Alliance 2030 really put the business plans for the Renault-Nissan-Mitsubishi Alliance under a better spotlight. Although it still seems we’re waiting on the new model from Mitsubishi Motors to lead the way for Nissan and Renault, Renault and Nissan have been talks about investing into a new battery-electric vehicle (BEV) facility in May 2022 to get all three brands under the same roof for quicker production. Called Ampere, Renault and Nissan were on board with the plan and both invested into the new facility, but it didn’t seem like Mitsubishi Motors was so sure. Now, in October 2023, and the Japanese automaker has decided to make a sizable investment into Ampere.

When Renault first introduced the idea for a new BEV facility for the Alliance, it came on the heels of a new business plan. A large goal for Alliance 2030 is to expand the lineup to consist of 35 new BEV models across the three brands. With the increasing cross-share of resources and materials, the Alliance aims to design new BEV platforms to underpin future models and design a CMF-BEV platform able to deliver an all-electric range of up to 250 miles. The Renault-Nissan-Alliance says this could be the platform for 15 of the 35 models by 2030.

With already 10 years of development, Renault has made a considerable contribution to the BEV side of the Alliance. Having already invested €10 billion ($1,056,645,000) in electrification technologies, Renault has 15 plants currently manufacturing parts, motors, batteries for ten upcoming BEV models from the Alliance. However, it needs a new BEV facility dedicated to making these new BEVs, and that calls for more funding.

Nissan already entered into an agreement, considering an investment as much as 15-percent, plus its cross-shareholdings with Renault. So far, the automaker’s investments equal 600 million euros ($640.98 million). In October 2023, Mitsubishi Motors finally agreed to invest up to 200 million euros ($214 million) into the new BEV facility of Renault. Renault claims the total value could be as much as 10 billion euros ($10.47 billion) after funding concludes, setting the first investor day for Ampere to take place on November 15, 2023.

At the moment, Mitsubishi Motors has no global BEV model in its lineup. The Mitsubishi i-MiEV was the last entry, and although the first highway-capable EV, the i-MiEV is no longer sold in the U.S. As far as electrified models go, the automaker heavily relies on the Mitsubishi Outlander PHEV, and is introducing the Mitsubishi Colt with a hybrid option this year (2023). In order to expand its lineup of battery-powered vehicles, investing in the Renault BEV facility, Ampere, is the first step to get a foundation going. As always, the business strategy for Alliance 2030 is to set up Mitsubishi Motors as the first automaker of the Alliance to break ground for a new brand new model. Thus, the first step of the new collaboration with Ampere will be to supply Mitsubishi Motors with a new BEV model, set for initial release in Europe.

Listed to go live in the spring of 2024, be on the lookout for new models from the Renault-Nissan-Mitsubishi Alliance. You can always keep up when you follow us on University Mitsubishi social media.

Photo Source/Copyright: Renault-Nissan-Mitsubishi Alliance