According to foreign media reports, on May 11, Luca de MEO, CEO of French carmaker Renault, confirmed that the company would discuss the establishment of a new electric vehicle joint venture with alliance partners Nissan and Mitsubishi** "We are very transparent and will discuss these things. There will be many cooperation projects between Renault and alliance partners in the future." De MEO said.
In February this year, Renault revealed for the first time that it was considering splitting the electric vehicle department into an independent company. In addition, Renault may propose Nissan and Mitsubishi to invest in the company. Renault, Nissan and Mitsubishi will hold a meeting in Japan on May 15. It is expected that the electric vehicle joint venture to be established by Renault will become the main topic of discussion at the meeting.
The operation of electric vehicles requires a lot of money. Renault plans to list its electric vehicle subsidiary next year, probably to raise funds for the electric vehicle business. On the other hand, Nissan and Mitsubishi are also in a leading position in the development of electric vehicles. Mitsubishi launched the world's first mass-produced electric vehicle in 2009. In 2010, Nissan launched leaf EV, with global sales of more than 500000 vehicles.
There is speculation that if Nissan and Mitsubishi join Renault electric vehicle company, it may lead to the capital reorganization of the tripartite alliance. De MEO did not disclose the details of the discussion and declined to comment on whether Renault would sell some Nissan shares.
Renault, Nissan and Mitsubishi plan to share about 70% of key electric vehicle components, including motors, batteries and platforms, in the next few years. By fiscal year 2026, the tripartite alliance will invest a total of 23 billion euros ($24.2 billion) in the development of electric vehicles. The alliance will launch 35 electric vehicles by fiscal year 2030, of which 90% will be produced on five platforms shared by the three companies.