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Nissan plans $663 million investment in Renault’s EV unit Ampere and says profit leapt in April-June

KIFI

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Nissan and Renault have redefined their French-Japanese auto alliance to establish more equal cross-shareholdings. The change will end a disparity that had caused friction between the automakers. Nissan also said Wednesday it will invest 600 million euros, or $663 million, in Ampere, Renault’s electric vehicle and software entity in Europe. Renault and Nissan will retain 15% cross-shareholdings in each other. Nissan also reported that its profit more than doubled in the April-June quarter to about $753 million. The company said that despite slow sales in China, sales in other countries were stronger. Weakness in the Japanese yen also helped boost Nissan’s bottom line.

Article Topic Follows: AP National

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