Renault-Nissan joins forces with Mitsubishi, alliance to target the launch of 12 zero-emission vehicles
Category: #world  By Saipriya Iyer  Date: 2017-09-19
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Renault-Nissan joins forces with Mitsubishi, alliance to target the launch of 12 zero-emission vehicles

Renowned joint venture Renault-Nissan has collaborated with Mitsubishi to introduce the Alliance 2022, apparently the group's new six-year plan. This pathbreaking alliance, if reports are to be believed, aims to launch 12 zero-emission electric vehicles by the end of the year 2022. Additionally, the works also include plans to bring to the fore 40 autonomous vehicles, each with a different level of autonomy. Furthermore, the group also plans to introduce a robot-vehicle ride-hailing service.

Mitsubishi’s collaboration with Renault-Nissan has sent the entire automotive industry in a tizzy. The proposed deal aims for a revenue estimate of close to EUR 220 billion in 2022. That makes it an estimated EUR 40 billion increase from its currently pegged value of EUR 180 billion. The alliance essentially aims to reduce battery costs of electric vehicles by close to 30% from what they are presently. In addition, it has been reported that the deal plans to reduce the charging time for a distance of 143 miles (230 km) to around 15 minutes, by 2022.

Carlos Ghosn, the Chief Executive and the Chairman of the Renault-Nissan-Mitsubishi Alliance was quoted stating that this deal is anticipated to “double the synergies” between both these behemoths (Renault-Nissan and Mitsubishi) – from the current EUR 5 billion to EUR 10 billion by 2022. This high-end estimate is expected to be accomplished by accelerating the partnerships between Renault, Nissan, and Mitsubishi Motors on powertrains, connected technology, and next-gen electric & autonomous vehicles. Furthermore, he was also quoted declaring that by the end of 2022, the three companies would jointly sell close to 14 million cars, which is a marked improvement from the current 10.5 million cars.

Industry experts affirm the fact that Russia, Southeast Asia, and China are touted to be the largest markets for this joint collaboration. Though Mexico and the United States are fairly huge growth grounds, it has been predicted that the three aforementioned regions would emerge as the most lucrative revenue pockets for the Alliance.

The multi-billion-euro deal is expected to have no repercussions on the current production schedules of any of the companies. Nissan will supposedly continue the development of the latest model of Leaf, its best-selling electric car so far. Also, it has been reported that Renault-Nissan-Mitsubishi partnership will continue fulfilling its commitment toward the UK industry and the Sunderland auto plant, which, if estimates are to be believed, had an automobile production count of close to 500,000 cars in 2016.



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Saipriya Iyer

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Saipriya Iyer

Saipriya Iyer develops content for Market Size Forecasters, Algosonline, and myriad other platforms. A computer engineer by profession, she ventured into the field of writing for the love of playing with words. Having had a previous experience of 3 years under her bel...

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