Nissan-Renault-Mitsubishi Alliance to Cut Investment

Economy

Tokyo, May 27 (Jiji Press)--Nissan Motor Co. <7201>, Renault SA and Mitsubishi Motors Corp. <7211> said Wednesday that the three-way automotive alliance will cut investment related to vehicle development by up to 40 pct through measures such as promotion of unified production.

The move comes amid growing uncertainty over the alliance's business outlook due to the coronavirus pandemic and turmoil following the arrest of former alliance leader Carlos Ghosn in Japan in 2018.

Prioritizing efficiency and competitiveness, the alliance will make the most of each company's assets, Renault Chairman Jean-Dominique Senard told an online press conference.

Specifically, Nissan will lead the development of minivehicles in Japan. It will also lead the alliance's operations in China and North America, while Renault will do the same in Europe and South America and Mitsubishi in Southeast Asia.

They will promote the development of next-generation technologies such as electric and self-driving vehicles, with each company specializing in their respective fields of strength.

[Copyright The Jiji Press, Ltd.]

Jiji Press