Mitsubishi Shifts Gears: Halts Investment in Renault's Ampere

Mitsubishi Motors announced on Monday a strategic pivot, choosing to withdraw its planned investment in Renault's electric vehicle venture, Ampere. This decision marks a significant shift in Mitsubishi's EV approach.

Despite this withdrawal, Mitsubishi remains dedicated to producing new models based on Renault platforms. It is also open to continued collaboration, including exploring potential OEM vehicles with Renault and Ampere.

In a similar move, Japan's Nissan has retracted its investment in Ampere to allocate resources toward a substantial restructuring initiative. Meanwhile, Ampere assures it can sustain its growth without minority shareholder financing, as Renault's EV sales surged in the first quarter with new model releases.

(With inputs from agencies.)