Renault, Nissan to invest USD 26 bn to boost EV biz

Renault and Nissan will work more closely together to make electric cars, they said on Thursday, as they detailed a $26 billion investment plan over the next five years to stay competitive in the switch to cleaner driving.

The two-decade old alliance, which also includes Mitsubishi Motors, said it would increase the number of common platforms for electric vehicles (EV) to five from four.

They will build a combined EV line-up of 35 vehicles by 2030, the companies said, adding that by 2026 four fifths of their models would share common platforms, up from 60% now.

Rocked by the 2018 ouster of alliance founder and Chairman Carlos Ghosn amid a financial scandal, the companies have pledged to strengthen their ties by pooling more resources.

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