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Mitsubishi Motors says no decision yet on investing in Renault’s new EV unit By Reuters

© Reuters. FILE PHOTO: Workers install a battery for a new electric vehicle model at Mitsubishi Motor Corp’s factory in Kurashiki, Japan May 19, 2022. REUTERS/Satoshi Sugiyama
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TOKYO (Reuters) – Mitsubishi Motors (OTC:) Corp, a junior partner in the Nissan (OTC:) Motor Co and Renault (EPA:) alliance, has not made a decision yet on whether to invest in the French automaker’s electric vehicle company, a top executive said on Wednesday.

“It’s necessary to gain the full understanding of our shareholders and board members, and for this reason, it is necessary to carefully examine the figures,” said chief executive Takao Kato. “We do not expect to reach a conclusion in such a short period of time.”

Mitsubishi would consider whether taking part in the EV unit would be beneficial for the Japanese automaker’s product development in the future, Kato said.

The Japanese and French automakers said last month they were in talks about the future of their alliance, including Nissan potentially investing in the electric vehicle business being spun out of Renault.

Mitsubishi will likely invest a few percent in the new Renault unit to retain its alliance relationship, Reuters reported last month, citing a person familiar with the matter.

Story Credit: investing.com

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