The combined global sales of Renault, Nissan Motor and Mitsubishi Motors are expected to increase by 40% by 2020.
The Renault-Nissan alliance now includes Mitsubishi, with Nissan having a 34% stake in Mitsubishi.
Under its Alliance 2022 plan, the three member companies aim to increase car sales to 14 million annually by 2022, alliance chairman and CEO Carlos Ghosn said. This implies an increase of 40% compared to 10 million cars sold in 2016.
The main factors driving growth will be a boost in sales in China and developing countries, as well as increased supplies of electric vehicles.
Moreover, the alliance wants to increase annual benefit from synergies to 10 billion euros by 2022 compared with 5 billion euros last year.
Companies aim to collectively launch 12 electric vehicle models by 2022 and to increase the range of its electric cars to more than 600 kilometers, which is one and a half times more than the electric vehicles leading in this indicator today.
According to Ghosn, due to the expected rapid growth of technology, small players will have a difficult time keeping up with the market, since only large companies have sufficient resources to invest in all sectors, products, markets and technologies.
