Mitsubishi Motors Corporation will be injecting ¥20 billion (approximately $133.7 million) into Renault Group's new electric vehicle company Ampere, Nikkei reported on Tuesday.
Mitsubishi is planning to acquire EVs developed and produced by Ampere, and later sell them under its own brand, with a goal of speeding up the process of electrification while also maintaining the costs of development low.
Renault previously shared that it has plans to file for an initial public offering of its EV business in the spring of 2024.
