Renault-Nissan-Mitsubishi alliance has announced an ambitious 'Alliance 2022' plan under which the Franco-Japanese trio will aim to double annual benefit from synergies to 10 billion euros by 2022.
Under this plan, the group seeks to launch 12 electric vehicles (EVs) and 40 vehicles with different levels of autonomous drive technologies by 2022. The trio is looking to produce more than 9 million vehicles on four common platforms by 2022, increased from 2 million vehicles on two platforms in 2016.
"Today marks a new milestone for our member companies. By the end of our strategic plan Alliance 2022, we aim to double our annual synergies to 10 billion euros," Carlos Ghosn, chairman, and CEO of the Alliance said in a statement.
He added that to achieve the stiff target; the alliance will accelerate collaboration on shared platforms, powertrains and next- generation electric, autonomous and connected technologies.
"From the other side, synergies will be enhanced by our growing scale. Our total annual sales are forecast to exceed 14 million units, generating revenues expected at USD 240 billion by the end of the plan," he added.
With the focus shifting to EVs by several, if not all, automakers, Ghosn said: "The objective remains to be the number one provider of mainstream, mass market and affordable EVs around the world."
Additionally, the alliance will introduce a new family of EV motor and batteries from 2020, shared across the member companies. It will also look to decrease the cost of batteries by 30 percent by 2022.
In addressing the range and charging time of EVs, the alliance plans to lower charging time to 15 minutes to achieve a range of 230km by 2022, from the present 90 km in 2016. It also aims to achieve of over 600km EV range by 2022.
While the plan seems ambitious, in 2017 the Renault-Nissan-Mitsubishi became the world's largest automotive group by sales volume. The group sold 5.27 million units and 5 lakh units of EVs, this reflects that the alliance is on the right path to launch 12 EVs by 2022.