Nissan: Agreement with Renault on 15% mutual investment
Details of India business plan; New developments for Renault-Nissan-Mitsubishi Alliance (1)
2023/03/14
- Summary
- Nissan and Renault: 15% mutual investment, with Nissan investing in Renault's new EV company
- Nissan and Renault: Investing USD 600 million in India to strengthen development and manufacturing, and introducing six new models
- Nissan: From "Nissan NEXT" to "Nissan Ambition 2030”
- Launch of the new Nissan Sakura mini EV and the Mitsubishi eK X EV (pronounced "eK 'cross' EV")
- Nissan's financial results: Sales and operating income are expected to increase 29.4% and 45.6%, respectively, for FY2022.
- Mitsubishi Motors: Launching three EV models in 2022 and the ASX and Colt PHEVs in 2023
- Mitsubishi Motors' financial results: Expects 21.6% increase in sales and operating income to almost double for the full-year of FY2022.
Summary
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| Joint press conference of the three Alliance companies on February 6, 2023 (Source: Nissan Motor Co., Ltd.) |
In February 2023, Renault and Nissan agreed to increase their stakes in each other to equal (15%) and that Nissan would consider taking up to a 15% stake in Renault's new EV and software company, Ampere, and simultaneously announced new Alliance initiatives. In addition, the company announced more detailed plans for its India operations.
Nissan has made steady progress with its business restructuring plan "Nissan NEXT" for FY2020-FY2024, and returned to operating profitability in FY2021. In the second half of the Nissan NEXT plan, starting in fiscal year 2022, the company will also turn its attention to preparations for the realization of its long-term vision, "Nissan Ambition 2030”.
In June 2022, Nissan and Mitsubishi Motors launched the new Nissan Sakura mini EV and the Mitsubishi eK X EV (pronounced "eK 'cross' EV"). In the six months through the end of 2022, the Nissan Sakura and eK X EV recorded sales of 21,887 and 4,175 units, respectively.
Mitsubishi Motors Corporation (MMC) has been promoting structural reforms and fixed cost reductions under its mid-term management plan "Small but Beautiful" for FY2020-FY2022, and returned to operating profitability in FY2021. The company intends to offer electrified versions for all its models by 2030. In 2022, the company added three EVs to its lineup: the Airtrek for the Chinese market in March, the eK X EV, a mini EV jointly developed with Nissan, in June, and the Minicab MiEV relaunched in November. PHEV versions will be supplied by Renault on an OEM basis and will be available on the next ASX and the new Colt, which will be launched in Europe in 2023.
This report is Part 1 of a two-part series on new developments in the Renault-Nissan-Mitsubishi Alliance. Part 1 reports on the efforts of Nissan and Mitsubishi, and Part 2 reports on Renault's plans, including the new EV & software company "Ampere".
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