Nissan has confirmed it will strategically invest in Renault's electric vehicle and software division, Ampere.
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Renault and Nissan announced earlier this year they would adjust the current conditions of their Alliance, which date back to 2019.
Nissan will invest €600 million (AU$988 million) in Ampere and secure a board seat. Renault will continue to hold a majority share in Ampere.
The Japanese brand says the investment "aligns with Nissan's electrification strategy, creating multiple potential benefits and synergies that complement Nissan's own goals and initiatives in Europe and other potential markets".
Renault Group has previously said Ampere will be profitable within two years.
CEO of Renault Group Luca de Meo will head Ampere while continuing to maintain his responsibilities with the French automaker.
Ampere will be supported by "one of the most integrated EV value chains in the industry, a pioneering approach to Software Defined Vehicle, and state-of-the-art engineering and manufacturing capabilities," said De Meo.
Ampere has proposed an initial lineup consisting of six vehicles including the Renault 5, Renault 4, Megane E-Tech Electric, Scénic E-Tech Electric as well as two unannounced vehicles.
The company projects its factory in northern France will be capable of producing 480,000 EVs a year.
Renault will lean on its Ampere arm to reach its goals of being an all-electric brand in Europe by 2030.
The Renault Group aims to be carbon-neutral in Europe by 2040 and worldwide by 2050.
Nissan's funding into the company comes after Renault agreed earlier this year to reduce its stake in Nissan to 15 per cent. The remaining 28.4 per cent of its shares will go into a French trust.
Renault Group will continue to benefit from the "economic rights" from these shares until the shares are sold. The trust will gradually sell off its stake in Nissan, as instructed by Renault in consultation with the Japanese automaker.
In the new Renault/Nissan conditions the Japanese company now has voting rights in Renault shareholder meetings.
Both companies have agreed to limit their respective voting rights to 15 per cent on regular matters.
Renault and Nissan are still considering new projects within Latin America, India and Europe with some plans already confirmed.
In Europe, Renault and Nissan will look to work together on small Megane-sized EVs that are due on the market after 2026.
These vehicles will likely use a 800V architecture, and benefit from a new charging network to be deployed at Nissan and Renault dealerships.
Renault plans to launch a new electric FlexEVan in 2026 in Europe, and it will be shared with Nissan. This continues a long-standing relationship between the two, which sees Nissan sell rebadged versions of Renault's vans on the Continent.
Across in Latin America, Renault's "new half-ton pick-up", possibly a replacement for the Duster Oroch, will be shared with Nissan. Meanwhile the Nissan Frontier/Navara-based Renault Alaskan will continue to be produced by Renault in Argentina.
Nissan will also produce a new Renault-branded model at one of its Mexican factories.
The two companies will jointly develop a pair of city-friendly EVs for sale in Latin America and India.
On the subcontinent Renault and Nissan will work together on a bunch of new crossovers, with the first being a Nissan-badged version of the Renault Triber.
Content originally sourced from: CarExpert.com.au
