no delay to Nissan and Mitsubishi’s Ampere investment despite IPO cancellation By Reuters

© Reuters. Jean-Dominique Senard, Michelin tyre maker Chief Executive Officer, delivers a speech at the start of the Michelin Guide 2019 award ceremony in Paris, France, January 21, 2019. REUTERS/Philippe Wojazer/File Photo

PARIS (Reuters) -Renault’s decision to cancel the stock market flotation of its Ampere electric vehicle business will not delay investments into Ampere from Renault (EPA:)’s partners Nissan (OTC:) and Mitsubishi, said Renault chairman Dominique Senard.

Earlier this week, Renault ditched plans to list its electric vehicle business Ampere because of sluggish stock market conditions.

In December, Renault’s longstanding alliance partners Nissan and Mitsubishi had confirmed plans to invest in Ampere.

“Those decisions have been taken….there is nothing to call into question the amounts,” said Senard, on the sidelines of a business conference.

Mitsubishi Motors (OTC:)’ finance director Kentaro Matsuoka had told Reuters earlier on Thursday that the company’s joint projects with Renault were ‘proceeding on track.’

“As for the question on the precise form of our investment… we cannot give any more specific commentary for now,” he added, regarding investments into Ampere.

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