Nissan, Renault and Mitsubishi committed to electric cars

Nissan, Renault and Mitsubishi announced on Thursday that they will team up to make significant new investments in electric cars as they look to leverage their sometimes difficult alliance to compete on the world stage. the global market for battery-powered vehicles.

Speaking from France and Japan in a rare joint presentation, the union’s top executives said the companies had overcome the discord caused by the 2018 ouster of the former chief executive. operating Carlos Ghosn, which fractured their relationship and plunged them into turmoil.

The alliance – collectively known as the world’s third-largest automaker – has no choice but to align more closely as competitors rush into electric cars. The three companies are leaning on the advantages of their combined size as they seek to recover from the pandemic to sell cars globally and compete with rivals that have more aggressively pursued the vehicle market. battery-powered, including upstarts like Tesla and traditional rivals. like Volkswagen.

Going forward, the three companies in the alliance have announced plans to invest nearly $26 billion in jointly developing new battery electric vehicles, with plans to add 35 models to their lineup by 2030.

The companies also say they are aiming for significant savings in overall production costs by increasing the number of parts that their different vehicle lines have in common, aiming to cut costs by 65%. battery charge in 2028.

The downfall of Mr Ghosn, who fled Japan after being arrested for alleged financial misconduct during his time as head of the alliance, is widely seen as the result of a power struggle between Renault and Nissan, which some fear could lead to a breakup. which they cannot afford.

That has become all the more true since the pandemic: Both companies have suffered significantly from plummeting sales and tight supply chains, which have constrained production.

“We’ve been through three companies, a very strong crisis over the last few years, and officially we’re not excellent in terms of competitiveness,” said Jean-Dominique Senard, president of the alliance.

But the companies have forged their differences, he said, ending years of bitter divisions: “We’re making it clear that our relationship is incredibly strong, and I think today is unbreakable.”

Investments in battery vehicles will significantly expand the alliance’s offerings, but the group still lags behind competitors in its commitment to the vehicle, despite gaining ground early on. led the market with the Nissan Leaf, introduced in 2010.

Competitors like General Motors have said they intend to phase out internal combustion engines from their lineups in the 2030s, but the alliance is hedging its bets. For example, Nissan has set a much more modest goal: to make electric cars make up 40% of sales in the US by 2030.

Executives attribute slower adoption to the alliance’s global market presence, especially in developing countries, where high electric car prices and unreliable grids make people Consumers do not want to switch. Nissan, Renault and Mitsubishi committed to electric cars

Fry Electronics Team

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