TOKYO -- Nissan Motor, Renault and Mitsubishi Motors set out on Wednesday their plans to deepen their carmaking alliance to confront plunging vehicle demand amid the coronavirus pandemic, saying they would become more efficient and cut costs while ruling out a full merger.
The three carmakers said their alliance would seek to cut investment costs per vehicle model by up to 40% through greater use of common platforms and parts. They also cast doubt over its previous growth strategy, saying the focus would shift away from maximizing sales volume.
