Renault-Nissan Do More Together with $ 26 Billion Electric Bet


Tokyo / Paris-Renault and Nissan will work more closely to build electric cars, they said Thursday, 26 billion over the next five years to stay competitive in switching to cleaner driving The dollar investment plan was detailed.

A 20-year-old alliance, including Mitsubishi Motors, said it would increase the number of common electric vehicle (EV) platforms from four to five.

The two companies plan to build a combination of 35 EV lineups by 2030, adding that by 2026, four-fifths of the models will share a common platform, up from the current 60%.

“The alliance will maintain its position among the world’s car leaders,” said Jean Dominique Senard, chairman of the Alliance Steering Committee, in an online presentation.

However, it faces competition from major automakers with deeper pockets such as Toyota, which promised to spend $ 70 billion on vehicle electrification in December, and EV specialists such as Tesla.

Today, Tesla, the world’s most valuable car maker, predicts that shipments in 2022 will increase by 50% year-on-year on Wednesday.

Clotilde Delbos, Groupe’s chief financial officer, was asked if EV spending plans were adequate, given the alliance’s past experience in EV manufacturing, and Volkswagen AG of Germany turned to this technology. He said it was about half of the plan to invest.

“We are not the second division player when we get together,” Renault CEO Luca de Meo said in a presentation.

scale

To power the new EV, partners will secure 220GW (GWh) hours of battery capacity by 2030, halve battery costs by 2026 and reduce battery costs by 65% ​​by 2028. He said he plans to offer a larger scale. Please do not provide details on how to reserve capacity.

Nissan logo
A woman passing by Nissan Motor’s Global Headquarters in Yokohama, near Tokyo, on May 27, 2020. (Koji Sasahara / AP photo)

The money promised Thursday comes from the funds announced last year.

In June, Renault announced a five-year EV strategy of € 10 billion, launching 10 models and planning to have EVs account for 90% of all models by 2030.

Nissan announced in November that it would spend 2 trillion yen ($ 17.6 billion) over five years to accelerate the electrification of vehicles, including EVs and hybrid gasoline electric vehicles.

Japan’s third-largest automaker plans to launch 23 electric vehicles, including 15 pure EVs, by 2030. He also said he would like to reduce the cost of lithium-ion batteries by 65% ​​within eight years and introduce all solid-state batteries that could change the game by March 2029.

Nissan said Thursday that it plans to replace its European Minecraft car with a new EV that uses one of the popular platforms.

Forming a tripartite alliance is a cross-shareholding relationship, with Renault owning 43.4% of Nissan, Nissan owning 15% of non-voting shares of a French car company, and three minutes of Mitsubishi Motors shares. I own one of them.

Senard declined to comment when asked if partners could readjust their relationships by changing their holdings.

New structures are expected in financial markets. Renault has been in a dominant position since it bailed out Nissan 20 years ago, but now has lower sales than its Japanese partners.

“Life is long and we should never be impatient with that kind of subject,” Senard said.

($ 1 = 0.8929 euros)

Tim Kelly and Jill Guillaume

Reuters

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