Renault, Nissan and Mitsubishi alliance to make Electric Vehicles

Under the six-year plan, called Alliance 2022, the three companies plan to introduce 12 new electric vehicles by 2022 and 40 vehicles with different levels of autonomous drive.

Published: 16th September 2017 01:31 AM  |   Last Updated: 16th September 2017 08:35 AM   |  A+A-

A man walks in front of the logo of Nissan Motor Co. at the gallery at its global headquarters in Yokohama, near Tokyo. (File photo | AP)

By Express News Service

CHENNAI: Franco-Japanese auto partners Nissan Motor and Renault SA, which have sold the highest number of electric vehicles till date, do not want to give up that No. 1 ranking. The alliance, which also includes Mitsubishi, announced a six-year plan to double annual gains from synergies to 10 billion euros by 2022.

Under the six-year plan, called Alliance 2022, the three companies plan to introduce 12 new electric vehicles by 2022 and 40 vehicles with different levels of autonomous drive (AD) technologies while extending the models’ range and slashing battery costs.

Group Chairman Carlos Ghosn in Paris said that it aims to establish the companies as leaders in the electrification, autonomous and connected-car technologies that are upending the world’s auto markets.

Ghosn added Renault, Nissan and Mitsubishi Motors will accelerate collaboration on common platforms, powertrains and next-generation electric, autonomous and connected technologies.

“Our total annual sales will exceed 14 million units, generating revenues expected at $240 billion by the end of the plan,” he added.

The increased synergy target of 10 billion euros by 2022 follows a 16 per cent rise in synergies in 2016 to five billion euros.

The doubling of synergies will be achieved partially by contributions from Mitsubishi Motors, specifically through deeper localisation, joint plant utilisation, common vehicle platforms, and an expanded presence in mature and emerging markets, the Alliance said.

By 2022, they will increase their product range to cover all main segments in their key markets of Japan, the US, China and Europe, it said. The alliance is aiming at more than nine million vehicles to be built on four common platforms by 2022.

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