TOKYO -- Mitsubishi Motors will invest around 20 billion yen ($130 million) in Ampere, a new electric vehicle venture set up by Renault, Nikkei has learned. The Japanese carmaker plans to buy EVs developed and produced by Ampere and sell them under its own brand, allowing it to move toward electrification while keeping development costs low.

Mitsubishi Motors expects to sell EVs purchased from Ampere in Southeast Asia and Europe, its main markets. Through Ampere, the company intends to obtain information on trends in major EV markets, particularly in Europe.