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Nissan will invest in Renault’s Ampere in pursuit of global EV roadmap, CEO says

Japan’s Nissan Motor will invest in Renault’s electric vehicle (EV) unit Ampere even after its listing plans fell through, while also evaluating its partnership with Honda Motor to further build its global EV expansion. “We want to be a global (EV) player in the world,” Nissan CEO Makoto Uchida told reporters during a press briefing in the southern Indian city of Chennai on Wednesday, adding that the company wants to deepen its partnership with Renault.

“Therefore, regardless of the IPO whatsoever, we are looking at Ampere. We are already discussing about Ampere, our investment,” Uchida added.

Nissan, in December, had confirmed it would invest 600 million euros ($650 million) in Renault’s EV business Ampere, listing plans for which the French car-maker ditched earlier this year because of sluggish stock market conditions.

Renault’s chairman said last month the decision will not delay investments from Nissan or other long-time partner Mitsubishi. This was echoed on the day by Nissan’s top boss.

The 91-year old Nissan Motor, which was once a pioneer in EVs with its all-electric Leaf model, is also simultaneously fielding a partnership with larger domestic rival Honda Motor, in a strategic bid to stave off stiff competition in the EV space from China’s BYD, Tesla and other global automakers.