Renault, Nissan Abandon Race for Growth to Focus on Costs
- Automakers were already struggling before coronavirus pandemic
- Investments critical for electrification, autonomous cars
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Renault SA and Japanese partners Nissan Motor Co. and Mitsubishi Motors Corp. unveiled a plan for deeper cooperation in developing and building vehicles as they seek to salvage their strained alliance and weather a collapse in car demand.
The measures will help deliver savings of as much as 40% in model investments for jointly developed vehicles, the companies said Wednesday. Nissan will take the lead on autonomous driving, Renault on the body of electric cars and some electric powertrains while Mitsubishi Motors will work on plug-in hybrids, they said.