2023-07-14 04:58:05 ET
Nissan Motor ( OTCPK:NSANY ) ( OTCPK:NSANF ) is eyeing a JPY 100B (~$723M) investment in French automaker Renault's ( OTCPK:RNSDF ) ( OTCPK:RNLSY ) new EV unit Ampere, Reuters reported citing Japanese newspaper Yomiuri Shimbun.
The companies expect Ampere's enterprise value to be €8B-€10B and Nissan's ( OTCPK:NSANY ) investment ratio will likely be below 10% of that amount, lower than the 15% commitment made by the Japanese automaker.
A Nissan ( OTCPK:NSANY ) director will join Ampere and restrictions will be placed on handling intellectual property from the Japanese company.
A Nissan ( OTCPK:NSANY ) spokesperson told Reuters that the exact investment amount and other contract details are not yet finalized as discussions are ongoing.
The companies overhauled their two-decade old alliance earlier this year, under which Renault ( OTCPK:RNSDF ) agreed to pare its stake in Nissan ( OTCPK:NSANY ) to 15% from about 43% to put them on an equal footing.
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Nissan eyes ~$723M investment in Renault's new EV unit - report