Nissan, Renault, Mitsubishi to Disclose Biz Plans in May

Economy

Yokohama, Jan. 31 (Jiji Press)--Nissan Motor Co. <7201>, Renault SA and Mitsubishi Motors Corp. <7211> have agreed to disclose their respective new medium-term business plans around May, according to Nissan President Makoto Uchida.

The agreement was made at a meeting of top leaders of the three-way automotive alliance held at Nissan's headquarters in Yokohama, Kanagawa Prefecture, south of Tokyo, on Thursday.

Under the plans, one with the greatest competitiveness will lead the other two in each category, such as compact cars and electric vehicles, Uchida said.

A division of roles in regional operations will be clearly defined, with Nissan to be in charge of China, Mitsubishi Southeast Asia and Renault Europe, according to Uchida.

Regarding whether to review the current capital ties with Nissan, Renault Chairman Jean-Dominique Senard told reporters after the meeting that it is not a time to do such a thing as the priority is to streamline the alliance.

[Copyright The Jiji Press, Ltd.]

Jiji Press