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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