URGENT: Nissan-Renault-Mitsubishi alliance to spend 23 bil. euros in EV push

Economy

An alliance of Nissan Motor Co., Renault SA and Mitsubishi Motors Corp. said Thursday it will invest 23 billion euros ($26 billion) over the next five years to boost the electrification of their vehicle lineup. The auto group said in a release that it will also roll out 35 new electric vehicle models by 2030. The move comes amid intensifying competition among global automakers to introduce more electrified vehicles to meet more stringent emission regulations. In Japan, Toyota Motor Corp. has said it plans to spend around 4 trillion yen ($35 billion) by 2030.

Kyodo News

Kyodo News