The Alliance of French carmaker Renault and Japanese manufacturers Nissan Motor andMitsubishi Motors has announced its plans for electrification and roadmap to sharecommon projects.

The joint venture will invest $23 billion over the next five years to accelerate its EV push by 2030. By then, the three carmakers aim to launch 35 new EV models.

Renault, Nissan and Mitsubishi will enhance usage of common platforms in the comingyears to more than 80 percent of its combined 90 models in 2026. The Alliance thinks thiswill also help in innovations to come up with more affordable electric cars in future.

Renault, Nissan and Mitsubishi will enhance usage of common platforms in the comingyears to more than 80 percent of its combined 90 models in 2026. The Alliance thinks thiswill also help in innovations to come up with more affordable electric cars in future.

The CMF-EV platform is the global, flexible, EV platform. It will be on the roads in a fewweeks as the base for the Nissan Ariya EV crossover and Renault Megane E-Tech Electric. By2030, more than 15 models will be based on the CMF-EV platform, with up to 1.5 millioncars produced on this platform per year.

As part of the plans, the three carmakers will share five common EV platforms, the largestglobal offer of the industry.