Renault-Nissan Alliance Plan Aims to Double Cost Savings to $12 Billion

11:56 AM, Sep 15, 2017 — The car-makers’ alliance led by France’s Renault and Japan’s Nissan (7201.T) said on Friday it is planning to double its cost savings to 10 billion euros ($12 billion), launch 12 fully-electric models and operate a fleet of self-driving taxis by 2022.

The automotive alliance, which is the world’s largest, also has Mitsubishi Motors (7211.T) as a member and works with Germany’s Daimler (DAI.DE) and China’s Dongfeng.

To achieve the cost-saving target “on one side, Renault, Nissan and Mitsubishi Motors will accelerate collaboration on common platforms, power-trains and next-generation electric, autonomous and connected technologies,” Carlos Ghosn, chief executive of the Alliance, said detailing their six-year plan revealed on Friday.

The alliance seeks to sell 14 million units in 2022 up from about 10 million sold in 2016, the company said. Combined revenues are estimated at $240 billion by that year. The companies also plan to produce 12 new zero-emission, purely electric vehicles by 2022, using new common electric vehicle platforms and components.

Over the same period, the car-makers plan to introduce 40 vehicles with varying levels of autonomy ranging to fully self-driving capabilities. The alliance is also targeting running ride-hailing services with self-driving vehicles by that year.

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