Home » Renault, Nissan and Mitsubishi, maxi-plan of the Alliance for the electric car

Renault, Nissan and Mitsubishi, maxi-plan of the Alliance for the electric car

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Renault followed the bad performance of the European stock exchanges and the sector index (the Stoxx 600 Automobiles & Parts lost more than 5%) – after a start in contrast with the reverse of the market – despite rumors about a maxi-plan of investments in the electric car, along with long-time allies Nissan and Mitsubishi. Around 11 o’clock, the French carmaker’s stock posted an increase of 2.4% to 34.12 euros, while the Paris index, the Cac 40, dropped 1.6% (it closed at -4% ). According to Reuters, the trio will unveil the “Alliance to 2030” plan on Thursday, which foresees tripling investments, totaling more than 20 billion euros over the next five years, to jointly develop electric vehicles.

By 2030, the Alliance is expected to propose more than 30 new battery electric vehicles produced on the basis of five common platforms, four of which have already been developed and partially used by the Franco-Japanese alliance. Under the plan, joint investments will be made to produce a total of 220 gigawatt hours of battery capacity in France, Great Britain, China and Japan by 2030. No comments from the three automotive groups.

The analysts’ reactions were positive. Jp Morgan maintained his positive recommendation for the Losanga company led by CEO Luca de Meo, with a price target of 62 euros and Exane Bnp Paribas raised his advice to overperform.

Only three days ago the start of the partnership in Korea and on the Chinese market between Renault and the Geely group caused a stir. With a de Meo who had expressed his disappointment at the very disappointing sales figures in China. But above all it concerned the future of the Korean Samsung Motors.

Renault and Nissan, however, have a history and economies of scale that keep them tied in spite of stomachaches. They adopted a leader-follower strategy in May 2020, with a breakdown of regions to cover. In the plans it would have been a relaunch plan to increase the competitiveness of the respective brands. Something went wrong, and de Meo looked to Geely, if only to start building a relationship. Geely guarantees an excellent endowment of platforms. “Renault’s entire strategy in China has turned out to be wrong,” the manager told Bloomberg News on the sidelines of a media event last week.

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