Renault, Nissan, Mitsubishi to unveil 2030 EV plan this week

Renault, Nissan, Mitsubishi to unveil 2030 EV plan this week

1/24/2022 4:30:00 PM

Renault, Nissan, Mitsubishi to unveil 2030 EV plan this week

Renault SA, Nissan Motor Co and Mitsubishi Motors Corp plan to triple their investment to jointly develop electric vehicles (EVs), two people with knowledge of the plan told Reuters.

The three are expected to announce on Thursday a plan to invest more than 20 billion euros ($23 billion) over the next five years on EV development, the sources said. By 2030, the alliance is expected to come up with more than 30 new battery EVs underpinned by five common platforms, they said.

A Nissan spokesperson declined to "comment on speculation". Spokespeople for Renault and Mitsubishi did not respond to requests for comment.The three-firm alliance has developed and partly deployed four common EV platforms.Nissan has already decided to use this platform, called CMFB-EV, and other standardized components to electrify the Nissan Micra compact car, while Renault is expected to come up with a similar EV car based on the same platform, the sources said. The Micra EV is projected to be released by the mid-2020s.

Read more: FOX Business »

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