EVWire brief: Mitsubishi has published a two-sentence statement (literally) saying that it has “decided not to proceed with an investment in Ampere.” Mitsubishi had announced a €200M investment plan into Ampere — which is the EV arm of Renault — in late 2023.
Context:
This doesn’t mean the collaboration between the companies is dead, as the automaker writes the also rather generic second sentence: “The company remains committed to exploring potential avenues for continued collaboration, including the potential OEM vehicles provided by Renault and Ampere.”
This is also apparent on the Mitsubishi electric Eclipse Cross that Mitsubishi announced last week, premiering in September — it’ll be built on Ampere’s AmpR Medium platform, in Renault’s EV plant in France.
Just a few months ago, Nissan pulled out of their investment plans of €600M into Ampere, and similarly “continuing the agreed product projects."
Now, we don’t know yet (or ever) if any of these funds were already partly invested. It does leave some questions in the air on Ampere’s funding plans, however, since back in January 2024, Renault Group had decided to cancel Ampere’s IPO plans saying that “the current equity market conditions are not met to optimally pursue the IPO process in the best interests of Renault Group, its shareholders and Ampere.”
Is this a sign of potential reconsolidation from Renault, which separated its ICE and EV businesses? Or will Ampere go and try for the public markets again? It also might just be the friends, old alliance, separating as they own have their troubles to face (see: Nissan).
Source: Mitsubishi Motors (two-sentence) press release
