Renault SA and Japanese partners Nissan Motor Co. and Mitsubishi Motors Corp. on Wednesday unveiled steps to standardize platforms further and push for more joint purchasing to reduce costs, with each company focusing on its strengths.
The measures will help deliver savings of as much as 40 percent in model investments for jointly developed vehicles, the companies said. Nissan will focus on autonomous driving, Renault on the body of electric cars and electric powertrains while Mitsubishi Motors will work on plug-in hybrids, they said.
Renault, Nissan and Mitsubishi Motors need each other more than ever now, with the global coronavirus pandemic forcing automakers to shutter showrooms and factories. The industry is also facing a once-in-a-generation shift to electric vehicles and autonomous driving that will require significant investment in technology and filter out losers and winners. After coming under strain last year, the partnership is seeking a fresh start, backed by new measures at the companies to improve profitability.
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