(Yicai Global) April 12 -- French and Japanese carmakers Renault and Nissan, which work together through the Renault-Nissan-Mitsubishi Alliance, have set up a joint venture in Shanghai to develop vehicle technologies.
The pair will both take 50-percent stakes in the firm, known as Alliance Automotive Research and Development or Alliance Innovation Lab, they said in a statement today. The unit will research autonomous driving and connected and electric vehicles, with plans to use the technologies developed in China and around the globe.
Renault-Nissan-Mitsubishi plan to add 12 new zero-emission electric vehicles and 40 models of varying autonomy, the statement added, saying the group hopes to make 90 percent of its vehicles connected by 2022. The firms also pledged to start running autonomous ride-hailing services.
The Alliance ranks among the world's biggest new-energy vehicle sellers, and its plans are an apt fit for China. The Asian nation has been home to the world's largest auto market since 2009 and sells more electric vehicles than any other country.
Shanghai itself has been a hub for NEVs and smart driving technologies, being the country's first city to run road trials for autonomous cars and with special license plates for eco-friendly cars. It already has 37.2 kilometers of asphalt set aside for self-driving tests, and the city government said on April 10 that it plans to add more.
Editor: James Boynton