By Kim Richters 
 

Auto makers Renault SA, Nissan Motor Co. and Mitsubishi Motors Corp. will spend 23 billion euros ($25.85 billion) on electrification over the next five years.

The investment is part of a plan announced by the French-Japanese alliance partners Thursday, which updates on the car makers' electric-vehicle strategy.

The companies said they plan 35 new electric-vehicle models and a total of 220 gigawatt hours of battery production capacity for electric vehicles across their key production sites world-wide, both by 2030.

 

Write to Kim Richters at kim.richters@wsj.com

 

(END) Dow Jones Newswires

January 27, 2022 03:34 ET (08:34 GMT)

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