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Global Economy

Renault, Nissan and Mitsubishi: 23 billion euros for electric vehicles

Vehicle groups Renault, Nissan and Mitsubishi have unveiled a joint plan to significantly expand their range of electric vehicles. The three companies intend to invest a further 23 billion euros in this business area over the next five years.

Renault Group Chairman Jean-Dominique Senard said: "We have aligned our plans for electric vehicle battery technology, which has led, among other things, to the selection of a common battery supplier for Renault and Nissan in France, the United Kingdom and Japan. We have a common ideal for the electrical and electronic design.

Alone, the three companies are not able to raise the sum with which they want to give their offer new impetus, according to the Renault boss.

Renault and Nissan have worked together since 1999, and Mitsubishi joined in 2016.

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