Renault to discuss EV venture with Nissan and Mitsubishi, hints CEO Luca de Meo

French auto giant Renault is mulling the idea to form an electric vehicle venture in association with its alliance partners Nissan and Mitsubishi. Renault CEO Luca De Meo has said in an interaction with Nikkei Asia that the auto company is considering initiating a joint electric vehicle venture with its partners Nissan and Mitsubishi.

When asked about the possibility of future cooperation for electric vehicles with Nissan and Mitsubishi, Renault's CEO said that it is highly possible. He also indicated that in future, the three companies are expected to work on various electric vehicle projects together. "Of course, we are very transparent and will discuss those things. In the future, we'll have lots of projects together," de Meo said.

The comment from Renault's CEO comes at a time when every global auto manufacturer is working keenly on electric vehicles and greener powertrain solutions. Renault is one of the key global auto majors that doesn't want to stay behind in the race. Hence, it is aiming to form a joint venture dedicated to electric vehicles along with its existing partners.

Nissan has been already working on electric vehicles. The company has promised to bring multiple electric vehicles over the next few years. Renault, Nissan and Mitsubishi announced that they will be spending $23 billion over the next five years on developing electric vehicles. The announcement was done in January earlier this year

The three auto manufacturers aim to launch 30 electric cars by 2030. The three automakers also said that 90 per cent of these EVs will be based on five different modular architectures dedicatedly built for electric vehicles. The alliance of these three auto manufacturers thinks that this synergy will help them closely focus on R&D and develop new EVs.