Renault-Nissan is aiming for 14 million vehicles sold in 2022

Nissan-Renault Seeks to Boost Annual Vehicle Sales to 14 Million

The group's plan also includes introducing 40 vehicles with varying levels of autonomy.

The targets were announced as part of a new strategic plan by the alliance after its takeover of Mitsubishi past year. Renault, Nissan and Mitsubishi have sold almost 10 million vehicles in 2016, and Mr. Ghosn has estimated that se sales would be approximately 10.5 million units this year.

Moreover, it will roll out 12 new pure electric vehicles by 2022 with 30 per cent decrease in battery cost from 2016 to 2022.

The alliance was light on specifics but confirmed plans to launch a new B-segment platform for mid-sized vehicles as well as a new EV platform with "advanced autonomous drive capability".

"By the end of our strategic plan Alliance 2022, we aim to double our annual synergies to €10 billion". He said two new platforms would join the alliance's CMF common architecture, one for compact cars such as the Micra, Clio and Captur crossover and one for electric vehicles, likely shared between the next generation of Renault Zoe and Nissan Leaf.

Point one involves developing four common platforms that would together underpin nine million cars, making up for 75% of the alliance's total sales.

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The combined global sales of Renault, Nissan Motor and Mitsubishi Motors will reach a total of 14 million units by 2022, according to a midterm business plan unveiled on Friday.

The automakers plan to release their first fully autonomous vehicle, requiring no human driver at all, in about five years.

Carlos Ghosn, chairman and chief executive officer of the Alliance, said, "This plan will boost the growth and profitability of our member companies". In the first half of 2017, their volumes increased by 7 per cent year-on-year to 5.27 million units, while sales of electric vehicles crossed a total of over 5 lakh units.

The projected sales target would take Renault-Nissan's annual revenues to around $240 billion. However, it did specify that it will launch four shared platforms with the aim of producing over 9 million vehicles on them. This will be achieved partially by contributions from Mitsubishi Motors, specifically through deeper localisation, joint plant utilisation, common vehicle platforms, and an expanded presence in mature and emerging markets.

On the topic of electric vehicles, a new family of electric motors and batteries will be introduced in 2020.

It also said it is seeking to be a "key operator" of driverless ride-hailing services and to provide autonomous vehicles for public transit and car-sharing.

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