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1/27, 9:54 AM (Source: TeleTrader)
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Renault-Nissan-Mitsubishi to invest €23B in EVs

The Renault–Nissan–Mitsubishi Alliance announced on Thursday its plan to invest €23 billion in the development of electric vehicles (EV) in an effort to be able to offer 35 new such cars in 2030.

The group's plan also includes the development of its own batteries and other parts of electronic architecture for EVs, with that role to be shared by Renault and Nissan.

The news comes after Nissan Motor Co. Ltd. confirmed it is planning electric cars to comprise 50% of its sales by 2030. Earlier, Nissan and Mitsubishi Motors Corporation stated they are intending to release a mini EV in 2022.

Baha Breaking the News (BBN) / JR