Tuesday, July 16, 2024

Mitsubishi Motors says no decision yet on investing in Renault’s new EV spinoff

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Although under the auspices of the same alliance, Mitsubishi explained that they have not yet decided whether to invest in electric vehicles that will be produced by Renault.

In general, Renault does separate factories between production for electric cars and conventional engine cars. This is done to make the production process easier in the future.

As reported by Reuters, Mitsubishi Chief Executive, Takao Kato, said that his party would still consider steps to invest in the electric car.

“It is important to get a full understanding from our shareholders and board members, and for this reason, it is necessary to examine the figures carefully. We do not expect to reach a conclusion in such a short time,” Kato said.

The reaction to Mitsubishi’s response apparently came after Renault’s chief executive, Luca de Meo, said that the company would control 80 percent of the electric vehicle chain ahead of the 2030 target.

“Our old recipe is not enough anymore. The huge investment they need (the shift to electrification) is not sustainable. We want to invest together, and be creative together,” explained Luca de Moe, at the time.

As one of the electric cars that is being hotly discussed is the Renault 5 EV, where the model manages to reflect retro and modern nuances in a unique form.

The presence of the electric car, reportedly will be Renault’s weapon to welcome the era of electrification later.

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