The Renault-Nissan-Mitsubishi alliance stated it would accelerate the merging in between the three companies on how they work in crucial areas, as part of a broader plan to deliver cost savings and increase revenues.
The alliance stated it would be planning to extend its convergence in the areas of buying, engineering, production and supply chains, and named numerous new project leaders for some of its key business areas.
“We are speeding up convergence to support our member companies with increasing synergies,” stated Renault head Carlos Ghosn, who is also the chairman and chief executive of the alliance, in a declaration.
“The Alliance will turbo-charge the performance and development of its member companies, while protecting the autonomy and distinct strategies of Renault, Nissan and Mitsubishi Motors,” included Ghosn.
Last September, the three companies’ joint alliance entity revealed a 2022 mid-term plan which targeted increasing yearly synergies to over 10 billion euros, up from 5 billion in 2016.
The Alliance member companies are anticipating boosting sales to 14 million units, compared to 10.6 million units in last year.