Renault-Nissan to invest £8.9 billion in electric and Autonomous cars

The Alliance of Renault, Nissan and Mitsubishi has announced that the ambitious plans for the production of a series of new electric, Autonomous and robotic vehicles with common platforms.

As part of the Alliance’s 2022 plan, the brands launch 12 new electric cars, 40 Autonomous-enabled cars and ‘robo-cars’ for ride-hailing services. The models are built with co-designed parts and bases.

The companies will jointly invest €10 billion(£8.9 billion) to the cause, which targets the sale of nine million cars (all based on only four common platforms) up to the year 2022.

Renault-Nissan Alliance CEO Carlos Ghosn said: “today marks a milestone for our member. At the end of our strategic plan for the Alliance of 2022, we have our annual synergies want to double to €10bn.

“In order to achieve this goal, on the one hand, Renault, Nissan and Mitsubishi collaboration will accelerate, based on common platforms, powertrains and next-generation electric, Autonomous, and related technologies.

“From the other side, synergies will be strengthened by our growth. Our annual sales are expected to exceed 14 million units, with sales expected to rise to $240bn by the end of the plan.”

The Alliance was created in 1999 by Renault and Nissan. He acquired a Mitsubishi in 2016, following revelations that the Mitsubishi had the fake consumption levels for 25 years.

Renault-Nissan recently, the Volkswagen group overtook one of the world’s largest automotive manufacturer, with the majority of deliveries recorded in the first half of 2017. It yielded 5.27 m vehicles over the period from Volkswagen 5.156 m.