TOKYO: Japan’s Mitsubishi Motors Corp. said Tuesday it will invest up to 200 million euros in Ampere, a new electric vehicle unit of French automaker Renault SA.

The investment is designed to expand Mitsubishi’s EV lineup. As the initial fruit from the capital tie-up, the Japanese automaker will receive models from Ampere on an original equipment manufacturer basis and sell them in Europe, Mitsubishi said.

Nissan Motor Co., which owns 34 pct of Mitsubishi, has already inked a final deal with Renault to invest up to 600 million euros in Ampere along with an agreement calling on the French auto giant to reduce its stake in Nissan to achieve an equal partnership.

Renault also has sought Mitsubishi’s investment in the new EV operation.

JIJI Press