Renault, Nissan, Mitsubishi outline new plan to survive coronavirus crisis

When Renault SA , Nissan Motor Co and Mitsubishi Motors Corp announced the last strategy plan for their Alliance in September 2017, the goal was to become the world's biggest automaker by 2022.

On Wednesday, the Alliance partners will outline a new plan with a less lofty objective, survival, the Reuters reported.

"There will be restructuring, there will be fixed costs reductions, there will be a number of projects which will be reduced," a person with knowledge of the plan told Reuters, speaking on condition of anonymity ahead of the announcement.

The three carmakers are reeling from the coronavirus pandemic