Automakers Renault, Nissan and Mitsubishi Motors, members of the Alliance, are fast-tracking electrification and will invest as much as €23 billion ($25 billion) over the next 10 years, focusing on boosting battery electric vehicles (BEV) and improving connected and intelligent cars.

The three automakers will have 35 new BEV models by 2030 based mostly on five common platforms across all major markets. The investment involves boosting synergies and mutualised resources to achieve the firms’ net-zero emission targets by 2050.

“The Alliance members will enhance usage of common platforms in the coming years from 60% today to more than 80% of its combined 90 models in 2026...As part of this, Mitsubishi Motors will reinforce its presence in Europe with two new models, among them the New ASX based on Renault best-sellers," the Alliance says in a note sent to Kallanish.

One of the actions is boosting synergies in the battery sector sharing suppliers to reduce costs. The aim is to continue to cut down costs by 50% in 2026 and 65% by 2028.

“By 2030, the Alliance will have a total of 220 gigawatt-hour battery production capacity for EVs across key production sites in the world,” the note says. Battery reuse and recycling will also be improved and the firms will focus the production by 2028 of all-solid-state battery technology (ASSB) for which Nissan will lead the development.

Meanwhile in the field of connected and intelligent cars Renault will develop for the Alliance “a common centralised electrical and electronic architecture converging electronics hardware and software applications to offer maximum benefits and an optimal level of performance.” The note continues and adds that, by 2026, 10 million vehicles will be equipped with autonomous driving systems.