The Renault Nissan Mitsubishi Alliance will spend more than $25B to develop dozens of new EVs.
The automakers also plan to use common batteries and target a reduction in battery costs from current levels of about 50% by 2026 and 65% by 2028, which will allow EVs to match the cost of internal-combustion vehicles.
The automakers also expect to have the first EVs powered by solid-state batteries by mid-2028, a technology that Nissan is spearheading for the alliance. Solid-state batteries are expected to double the energy density versus current liquid-type batteries, as well as reduce charging times by about a third. The technology is also safer as it's less prone to overheating.
There will also be a focus on software development. Here, Renault is leading the development of common electronic and software architectures that will be introduced in 2025. These architectures will be connected to a cloud network and enable new digital experiences, as well as advancements in self-driving capability. The architectures mean vehicles will also be able to communicate with connected objects, users, and infrastructure, opening up new possibilities for owners.
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