The Renault-Nissan alliance says it will double savings from closer integration to 10 billion euros ($11.9 billion) by 2022, chairman Carlos Ghosn pledging to step up integration after Nissan took a controlling stake in Mitsubishi last year. David Pollard reports.
Where else but Paris for an announcement from the boss of Renault? But Carlos Ghosn is also the chairman of the Renault-Nissan alliance .... It took a controlling stake in Mitsubishi last year. The challenge then: to bring carmakers together across two continents. (SOUNDBITE) (English) RENAULT-NISSAN ALLIANCE CHAIRMAN, CARLOS GHOSN, SAYING: "We are announcing new domains where we are going to collaborate together, obviously more common platforms, more common power-trains, but particularly all the new technologies, not only on electric cars but on autonomous drive, on connected cars, on mobility services, there is going to be only one technology for all the lines." And with that convergence, he said, comes an ambitious target to double savings. To over ten billion euros a year by 2022. Electric and hybrid will play big. The latest electric version of the Nissan Leaf was unveiled last week .... Ghosn sees a future generation of NEVs accounting for 30 per cent of group sales. (SOUNDBITE) (English) RENAULT-NISSAN ALLIANCE CHAIRMAN, CARLOS GHOSN, SAYING: "The Alliance will be selling this year 10.5 million cars - and we are forecasting - to be by the end of the plan, measured in 2023, at 14 million cars." Some analysts say some questions are unresolved - such as who might succeed Ghosn. But others say the 18-year old Renault-Nissan pairing may be maturing. (SOUNDBITE) (English) CHIEF ECONOMIC ADVISER, CEBR, VICKY PRYCE, SAYING: "It seems to have worked very well and we've seen actually the investments taking place, the efficiency drive that has happened already and all this new models, the emphasis on electric cars for example." On a consolidated basis, Renault-Nissan already claims the crown as the world's biggest carmaker - outstripping VW and Toyota. With revenues also expected to get bigger .... By a third by 2022 - to 240 billion dollars a year.