France to Invest $186M in Renault/Nissan Electric Car Battery Venture

Nov 8 2009 | 9:20am ET

The French government will invest EUR 125 million ($186 million) in a joint venture by partners Renault SA and Nissan Motor Co. to make batteries for electric cars.

The companies expect to produce 100,000 batteries annually at the French site of Flins, with production starting by 2012. The batteries will power Renault’s planned electric vehicles, but will also be sold to other automakers. Renault says Flins will also be the manufacturing site for its zero-emissions car, the Zoe, production of which should also begin in 2012.

Carlos Ghosn, who heads both companies, believes electric cars will account for 10% of the world auto market by 2020.

The investment is worth an estimated EUR 600 million ($891 million). The French government’s contribution will be made through its strategic investment fund.


In Depth

Debunking Conventional Investment Wisdom

Feb 8 2017 | 3:22pm ET

Due diligence in the hedge fund world has long involved some combination of the...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

iCapital Network: The Trump Effect On Direct Lending

Feb 23 2017 | 4:21pm ET

The arrival of the Trump Administration has raised questions among private debt...

 

From the current issue of