Nissan, Renault, Mitsubishi to Hold Press Conference on May 27
Tokyo, May 19 (Jiji Press)--Nissan Motor Co. <7201>, Renault SA and Mitsubishi Motors Corp. <7211> will hold a press conference on their alliance's new strategy on May 27, it was announced Tuesday.
The press conference is expected to be attended by the heads of the three automakers. They aim to strengthen their cooperation for survival amid growing uncertainty in the global auto market due to the COVID-19 pandemic.
The new strategy is expected to call for determining the most competitive member of the alliance in each business field and having it lead the other two. For instance, Mitsubishi is seen producing vehicles for Nissan in Southeast Asia.
Nissan, Renault and Mitsubishi will also step up their cooperation in the development of electric vehicle and other technologies.
Based on the new strategy, the three companies will draw up respective management plans. Nissan looks to eliminate redundant capacity to improve its earnings.
[Copyright The Jiji Press, Ltd.]