TOKYO, Jan 31, 2020 - (JCN Newswire) - Renault-Nissan-Mitsubishi has outlined a new framework to further reinforce its business model and strengthen its management structure. All three companies reiterated that the Alliance is essential for strategic growth and enhance competitiveness for each company.The new framework, ratified at a meeting of the Alliance Operating Board (AOB) in Yokohama, Japan, will enhance the ability of the Alliance member companies to capitalize on the individual company's strengths and complement their strategies.The AOB also reaffirmed key programs outlined at the previous board meeting in November to support initiatives that will enable each member company to increase competitiveness and profitability amid the industry shift to new mobility services.New framework to leverage member-company strengthsWe are reinforcing the collaboration models to fully leverage the strengths within each company to enhance our leadership across regions, products, and new technologies.As of today, the AOB has decided:1. On regions, each of the three companies will be the reference company for a dedicated region: Nissan for China, Renault for Europe, Mitsubishi for southeast Asia.2. The engineering will work on a leader/follower model, expanding this scheme to platforms, powertrains, and key technologies. Thus, one company will take the lead in the Alliance for the development of each key technology, which will then be spread among Alliance partners.3. The AOB also decided to pool the three companies CAFE credit in Europe as early as 2020.4. On LCV, Renault will develop and manufacture, in Sandouville plant, the Mitsubishi van based on Renault Trafic platform to be sold in the Oceania region.5. Strategic Mid-term plans of the three companies will be disclosed simultaneously around May 2020, integrating the major consequences of the Alliance Operating Board decisions.This new scheme will enhance the effectiveness and efficiency of Alliance projects, to further strengthen the use of resources and investments within the three companies.Evolution of Alliance governance to ensure executionThe AOB, which consists one chairperson and the chairperson or chief executive officer of each member company, also agree to engage actively with the respective Board of Directors of Renault, Nissan and Mitsubishi Motors to strengthen its governance to operate effectively for the benefit of each member company. Such initiatives will maximize the collaboration within the Alliance, while preserving the identity and autonomy of each member company.www.alliance-2022.comwww.media.renault.comhttps://global.nissannews.com/enwww.mitsubishi-motors.com/en/newsrelease/

About Mitsubishi Motors

MITSUBISHI MOTORS CORPORATION is a global automobile company based in Tokyo, Japan, which has a competitive edge in SUVs and pickup trucks, electric and plug-in hybrid electric vehicles. Since the Mitsubishi group produced its first car more than a century ago, we have demonstrated an ambitious and often disruptive approach, developing new vehicle genres and pioneering cutting-edge technologies. Deeply rooted in MITSUBISHI MOTORS' DNA, our brand strategy will appeal to ambitious drivers, willing to challenge conventional wisdom and ready to embrace change. Consistent with this mindset, MITSUBISHI MOTORS introduced its new brand strategy in 2017, expressed in its "Drive your Ambition" tagline -- a combination of personal drive and forward attitude, and a reflection of the constant dialogue between the brand and its customers. Today MITSUBISHI MOTORS is committed to continuous investment in innovative new technologies, attractive design and product development, bringing exciting and authentic new vehicles to customers around the world.

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