Nissan Renault Mitsubishi announce 'Alliance 2022'
The Franco-Japanese partnership of Nissan, Renault and Mitsubishi is getting closer as the three way marriage has issued a six-year strategy document.
Named 'Alliance 2022' it explains how the companies will be cooperating more closely on future product and behind-the-scenes collaboration. The aim is to double the cars' efficiencies and save £8.8bn a year by 2022.
In ths first half of 2017, the group sold 5.27 million cars, which makes it the world's biggest car maker by volume. by 2022 it forcests sales of more than 14m (up from 10m today) sending revenues up a third to £177bn.
Powering these new shared foundations will be group engines; Renault Nissan Mitsubishi vows that three-quarters of its output will use common powertrains (up from a third today), according to group chief Carlos Ghosn.
As you might suspect, it'll be largely one-way borrowing: Mitsubishi will have access to the Common Module Family (CMF) from Renault Nissan and its associated engines, by 2020. However, Mitsu's EV, battery and hybrid experience will be central to the group's electrification strategy.