Mitsubishi is still undecided on whether or not it will invest in Renault’s electric vehicle unit.
The French car manufacturer is splitting its electric vehicle and combustion engine businesses into two separate units. Nissan chief executive Makoto Uchida has previously said his company is having discussions about its involvement in the EV unit either through a direct investment or another form.
Speaking with Reuters, Mitsubishi chief executive Takao Kato said the firm would consider investing in the EV unit if it would benefit its product development in the future.
Read: Renault-Nissan-Mitsubishi Alliance To Unveil 35 New EVs By 2030
“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,” Kato said. “We do not expect to reach a conclusion in such a short period of time.”
An unnamed source familiar with the matter has claimed that Mitsubishi could take a stake of a few percent in the EV unit to retain its alliance relationship with Renault and Nissan.
News of Mitsubishi’s stance on the Renault EV unit comes shortly after Renault chief executive Luca de Meo said the company will control 80 per cent of its electric vehicle value chain ahead of a 2030 target by establishing partnerships in batteries, electric motors, and power electronics.
“Our old recipes are not enough anymore. The huge investments they (the shifts to electrification) require are not sustainable,” de Meo said during September’s Auto Motor and Sport congress in Stuttgart, Germany. “We want to co-invest, co-develop and co-create.”