NEW STEP IN ALLIANCE COOPERATION: GROUPE RENAULT TO SUPPLY MODELS FOR MITSUBISHI MOTORS IN EUROPE

Groupe Renault andMitsubishi Motors Corporation today announced a new step in their operationalcooperation.

Mitsubishi Motors hasdecided to procure OEM-model vehicles from Renault, best-sellers on theEuropean market which already meet regulatory requirements, for selected majormarkets in Europe.Starting 2023, Mitsubishi Motors will thus selltwo “sister models” produced in Groupe Renault plants, which are based on thesame platforms but with differentiations, reflecting the Mitsubishi brand’s DNA.

A model mix of the newly launched Mitsubishi Eclipse Cross PHEV and theRenault-developed sister models will enable Mitsubishi Motors to be morecompetitive in the market.

“Iam very happy to see Mitsubishi Motors building a new line-up in Europe. TheAlliance aims to enhance competitiveness and enable more effective resource-sharingfor the benefit of all three companies. Our approach is collaborative, relyingon mutual respect, with a clear intention to boost the performance of eachcompany, allowing individual companies to capitalize on their own strengths,avoid duplication of resources and improve efficiencies,” saidJean-Dominique Senard, Chairman of the Alliance Operating Board and Renault.

“MitsubishiMotors welcomes Renault’s OEM models for the European market, and ultimatelynew customers. Mitsubishi Motors has been implementingstructural reforms in Europe and our decision to freeze new car development forthe European Market, announced in July 2020 in our mid-term business plans, remains.However, the OEM supply agreement will provide us with a solution to offer newproducts developed and manufactured in Europe– alongside our ongoing aftersales business,”said Takao Kato, CEO Mitsubishi Motors.

“Ournew approach within the Alliance, focusing on impactful and meaningfulprojects, is turning into reality. This pragmatic, value-driven initiative willmake a difference in our plants, in our partner’s footprint and on the Europeanstreets. This beautiful project meets all partners’ expectations from a design,regulatory and business perspective. This is what the Alliance is meant for andwe are very happy, at Groupe Renault, to contribute to this new step in itshistory of cooperation.” said Luca de Meo, CEO Groupe Renault.

In line with the Alliance announcement last May2020, Groupe Renault, Nissan Motor Co., Ltd. and Mitsubishi Motors, the membersof one of the world’s leading automotive alliances, keep working on several initiativesto enhance competitiveness and realize further growth of the three partnercompanies by leveraging their respective leadership positions and geographicstrengths.

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