Nissan will no longer be required to invest in Renault’s electric vehicle subsidiary, Ampere, as part of an amendment to the New Alliance Agreement between the two automakers. The companies announced the change as part of a broader restructuring of their partnership.
The amendment effectively nullifies a July 2023 agreement in which Nissan had committed up to €600 million to Ampere. Neither Renault nor Nissan disclosed whether any portion of this investment had been made. Renault expects the revised agreement to take effect by May 2025, pending unspecified conditions.
Renault stated that the amendment would not affect its Nissan shareholding, which currently stands at 18.66%, but the agreement will allow it to reduce its stake in Nissan from 15% to 10% over time.
“As a long-time partner of Nissan within the Alliance and as its main shareholder, Renault Group has a strong interest in seeing Nissan turn around its performance as quickly as possible,” said Renault CEO Luca de Meo. “Pragmatism and a business-oriented mindset were at the core of our discussions to identify the most effective ways of supporting their recovery plan while developing value-creating business opportunities for Renault Group.”
Despite Nissan’s withdrawal from Ampere, the companies remain aligned on EV production. Renault, through Ampere, will manufacture a new electric Nissan Micra at its ElectriCity plant in Douai, France, starting in 2025. The Micra will share the same platform as the Renault R5, with planned battery variants of 40 kWh and 52 kWh, mirroring those of the R5.
Renault Takes Full Ownership of Indian Manufacturing Joint Venture
In a separate development, Renault will take over Nissan’s 51% stake in Renault Nissan Automotive India Private Ltd (RNAIPL), gaining full control of the Indian manufacturing operations. Nissan, however, will continue using the facilities under its existing joint venture with Renault.
“India will remain a hub for our research and development, digital, and other knowledge services,” said Ivan Espinosa, Nissan’s recently appointed President and CEO. “Our plans for new SUVs in the Indian market remain intact, and we will continue our vehicle exports under the ‘One Car, One World’ business strategy.”
The transaction is subject to regulatory approvals and is expected to be finalized in the first half of 2025.