Groupe Renault, Nissan Motor Co. Ltd., and Mitsubishi Motors Corp. are planning to set up a new company which will focus on research and development (R&D) of advanced technologies in the auto industry, Kyodo News reported on Sunday. According to the report, the three carmakers will announce the plan in January.
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The creation of the R&D firm will be a part of the companies’ effort to rebuild their alliance which was shaken last year after its former head Carlos Ghosn was arrested and charged with several counts of financial misconduct.
Earlier in the week, Renault, Nissan and Mitsubishi said they will appoint a general secretary who will “be the key for coordinating and facilitating several major alliance projects that are to be launched to accelerate business efficiencies.”