As a result of this collaboration, the prices of their offerings could drop by as much as 1/5 of Nissan’s leaf price tag.

As per Japanese business daily, the Nikkei has reported that Renault, Mitsubishi Motors Corp and Nissan Motor Co. will combine their EV platforms and in the process slash prices of new electric vehicles to levels comparable to their gas guzzling cousins.

Midst tightening fuel-economy regulations across the world, following a simiar strategy, Toyota Motor Corp and Volkswagen AG are also aiming to collaborate in order to produce battery operated electric vehicles.

While Renault and Nissan have been among the most vocal proponents of zero-emission technology, they have separately struggled to lower costs of electric vehicles.

The Nikkei has reported that Mitsubishi and Renault will now consolidate and streamline their production facilities to use the same vehicle platform as that of Nissan’s remodeled Leaf electric car, which is expected to go on sale sometime in 2018.

The 3 companies will share key components of EVs, including battery, inverter and motor technologies. The result of this collaboration is likely to hammer down the prices by nearly 1/5^th of the Leaf’s price tag, said the Nikkei citing sources familiar with the matter at hand.

Categories: Creativity, Entrepreneurship, HR & Organization, Strategy, Sustainability

Tags: collaborate, collaboration, comparable to combustion engine, drop in prices, electric vehicles, EV, EV platform, Mitsubishi, Nissan, Nissan leaf, price tags, prices, Renault, technology, vehicles, zero emission