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

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 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.