According to a report from Japan’s Kyodo News, Renault SA, Nissan Motor Co and Mitsubishi Motors Corp have agreed to form a new company focused on research and development of advanced automotive technologies.
The trio’s new alliance will announce concrete plans in January 2020, reported Kyodo citing sources familiar with the matter.
This new strategic alliance also aims to strengthen existing bonds between the three which had been frayed during the ouster of Carlos Ghosn, said the report.
Renault, Nissan and Mitsubishi plan to appoint a general secretary to the helm of their partnership to boost cooperation and reboot joint operations.
On Sunday, a new leadership team was installed at Nissan headed by 53-year-old Makoto Uchida, who ran the carmaker’s China business.
Renault is also looking for a new CEO. Clotilde Delbos, Renault’s CFO, is heading the company on an interim basis.