Mitsubishi Motors said it would will invest ‘up to’ EUR200m (around US$212.2m) in Ampere, Renault’s new EV and software unit.
The Japanese automaker is trying to strengthen its presence in Europe after withdrawing from some countries, including the UK, several years ago.
As a first step in the new collaboration, Ampere would supply a Mitsubishi branded EV for those European markets in which the Japanese automaker still operates.
“Through this initiative, Mitsubishi Motors aims to further improve its EV development technology and to expand its [EV range],” it said in a statement.
Ampere will be headed by Renault CEO Luca de Meo who will retain his role at the French firm.
Earlier, Mitsubishi strategic partner Nissan said it would commit to invest up to EU600 million ($663 million) in Ampere.
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Nissan and Renault finalised a restructured alliance deal in July after 10 months of negotiations described by insiders as “sometimes tense”.
The final deal saw Renault reduce its Nissan stake from around 43% to 15%.