Mitsubishi cancels Ampere investment agreement
In autumn 2023, Mitsubishi announced plans to invest up to 200 million euros in Ampere. How much of this amount has already been invested and how much remains outstanding is unclear – Mitsubishi’s official statement consists of just two sentences and offers no further detail.
Despite the newly announced change of plans, Mitsubishi remains committed to developing new electric models based on Renault platforms. “The company remains committed to exploring potential avenues for continued collaboration, including the potential OEM vehicles provided by Renault and Ampere,” Mitsubishi said in its brief statement. It does not quote a Mitsubishi executive, nor address the reasoning behind the decision.
Only last week, Mitsubishi announced that it would premiere its electric SUV Eclipse Cross in September. The model is based on Ampere’s AmpR Medium platform and is expected to be built at Renault’s electric vehicle plant in Douai, France. The new, fully electric Eclipse Cross (its predecessor, sold from 2018 to 2024, was available as a combustion engine and plug-in hybrid) may end up sharing powertrain options with the similarly sized Renault Scenic E-Tech Electric – namely, a 60 kWh battery with a 125 kW motor, and an 87 kWh battery paired with a 160 kW electric motor. However, this has yet to be officially confirmed.
The impact of Mitsubishi’s decision to withdraw its investment on Ampere’s financing remains unknown – Renault has yet to comment. It was already clear, however, that the funding plans would need revision: back in late March, Renault had released alliance partner Nissan from its commitment to invest in Ampere.
The Renault-Nissan-Mitsubishi Alliance has been showing signs of economic strain for some time, as the latest development further illustrates. Nissan, after failed merger talks with Honda, recently unveiled a drastic cost-cutting programme. Meanwhile, Mitsubishi has opted to work with contract manufacturer Foxconn on EV development overseas rather than collaborating with its alliance partners.
In terms of European products, however, the three manufacturers want to continue to work closely together. In March, Nissan reaffirmed its plans to produce the electric Micra based on the AmpR Small platform at Ampere’s Douai facility. The Renault R5 is also based on the AmpR Small platform, meaning the Nissan Micra will likely be somewhat of a sister model to the R5.
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