► Renault Nissan Mitsubishi alliance
► New five-year strategy announced
► What Alliance 2022 means
The Franco-Japanese marriage of Renault, Nissan and Mitsubishi has big plans. The three-way alliance has issued a new branding umbrella to signify its cooperation - and a new six-year strategy document.
Dubbed Alliance 2022, it spells out how the disparate companies will cooperate more closely on future product and behind-the-scenes collaboration. The goal? To double efficiencies and save €10 billion (£8.8bn) a year by 2022.
This is important: the group sold 5.27 million cars in the first half of 2017, making it the world's biggest car maker by volume. And it's forecasting sales of more than 14m by 2022, up from 10m today, sending revenues up a third to $240bn (£177bn).
Renault Nissan Mitsubishi: a new world force in car making
More details of the new strategy initially announced in Paris on 15 September have been revealed. The ‘Drive the Future’ plan spells out how the three car makers will accelerate use of four shared vehicle architectures. Eventually, more than 9 million vehicles will use a pool of just four common platforms (in 2016, it was just 2m).
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 (below).
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.
The alliance is promising 21 new cars and accelerated growth in markets like Russia through Lada and the big new player, China.
It's an electric and autonomous future, obviously
No car maker can stand up today and crystal-ball gaze without a nod to the overarching technological trends of our age. So, yes, the Franco-Japanese giant is promising a dozen electrified models, eight of which are EVs, using shared e-platforms. It'll also build 40 autonomous vehicles around the world.
Moreover, Renault Nissan Mitsubishi revealed it would be entering the 'robo-vehicle ride-hailing' arena.
More industry news by CAR magazine