Nissan Motor has finalized plans to invest in Renault¡¯s electric-vehicle venture Ampere, capping months of negotiations to rebalance the troubled automotive alliance.
Nissan will invest as much as €600 million ($663 million) in the business, the companies said in a statement Wednesday. Separately, the pair formalized a deal for Renault to reduce its ownership of Nissan to 15% by placing the rest of its current 43% shareholding in a French trust.
¡°These agreements provide us with a solid base to reactivate business operations worldwide in key markets, with the potential to generate hundreds of millions in value,¡± Renault Chief Executive Officer Luca de Meo said in the statement. ¡°They give us the strategic agility that we need more than ever in today¡¯s rapidly evolving environment.¡±
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