Renault SA and Nissan Motor Co. outlined a $26 billion electrification plan that will deepen ties within the struggling Franco-Japanese alliance as competition intensifies.
The funds, announced separately by the carmakers last year, will be spent over five years to roll out 35 new battery-powered cars by the end of the decade across five common manufacturing platforms, the companies said Thursday. The move is a major departure from the Renault Zoe and Nissan Leaf electric cars that were developed and built separately.
The plans mark a step forward in the three-way alliance that also includes Mitsubishi Motors Corp. that¡¯s still seeking to rebuild itself after nearly falling apart following the downfall of former leader Carlos Ghosn. After Renault and Nissan blazed an early EV trail with their best-selling Zoe and Leaf models, competition is heating up and the vehicles have since been leapfrogged by Tesla Inc. and Volkswagen AG.
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