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Renault-Nissan-Mitsubishi to invest £8.9bn in electric and autonomous cars

16 September 2017
Renault-Nissan-Mitsubishi to invest £8.9bn in electric and autonomous cars

As mentioned above, the plan also calls for major expansion in electric auto technologies, alongside the development and deployment of self-driving and connectivity technologies.

The group believes that this will double synergies between the companies to €10 billion on an annual basis by 2022.

According to the plan, the alliance will launch 12 new pure EV models within the five years. The alliance was the world's No. 1 automotive group by volume in the first half, selling more than 5.26 million vehicles, he said.

Alliance 2022 didn't have any vehicle designs or prototypes to show off.

Carlos Ghosn, chairman and chief executive officer of the Alliance, said it marks a new milestone for the member companies.

Alliance vehicles will share 22 engines out of 31, or 75 percent, compared to 14 shared engines among 38 a year ago.

He further said to achieve the target, on one side Renault, Nissan and Mitsubishi Motors will accelerate collaboration on common platforms, powertrains and next- generation electric, autonomous and connected technologies. We intend to deliver on growing synergies, with three autonomous companies cooperating with the efficiency of one. The alliance has been in place since 1999 yet a year ago just 2 million vehicles were built on two common platforms.

The Renault-Nissan alliance is aiming to boost annual sales to $240 billion and to sell 14 million cars a year by 2022.

The automakers plan to release their first fully autonomous vehicle, requiring no human driver at all, in about five years.

Carlos Ghosn has always been careful to say that the success of the Renault-Nissan alliance should be measured in synergies among the partners, not sales growth. This will pave the way for a long-range electric vehicle which can travel more than 600 km (372 miles). "Becoming an operator of robo-vehicle ride-hailing services is a major part of the new mobility services strategy", the press release states.

Alongside the three technology building blocks, the member companies will extend their use of shared common platforms and powertrains.

The alliance plans to build more than 9 million vehicles on four common platforms by 2022, up from 2 million vehicles on two platforms in 2016. They will be underpinned by common electric vehicle platforms and share components even though they will be introduced in multiple segments.