Nissan, Renault and Mitsubishi to set up new joint venture spree to focus on technology research and development

Nissan Motor Co., Renault Motor Corp. and Mitsubishi Motors Co. have reached an agreement to form a new joint venture focused on advanced automotive technology research and development, people familiar with the matter said. People familiar with the matter said the three companies would announce a specific plan in January. The new joint venture is also understood to be aimed at strengthening alliances.

Relations between the auto league have been strained since the arrest and expulsion of Carlos Ghosn, the former supreme leader. Mr. Ghosn was arrested in Tokyo a year ago for financial misconduct, a charge he denies.

Nissan, Renault and Mitsubishi to set up new joint venture spree to focus on technology research and development

Renault, Nissan and Mitsubishi are understood to be planning to appoint a secretary-general to lead their partnership to facilitate cooperation and restart joint operations.

Starting on Sunday, Nissan has formed a new leadership team, led by 53-year-old Makoto Uchida, who previously headed the company’s China operations. Renault is looking for a new chief executive, who is currently on a temporary basis with treasurer Clotil de Delbos.

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