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

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

renault, nissan
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Profits are plunging at all three automakers and thousands of jobs will be at risk as Renault and Nissan announce separate restructuring plans later this week

Agencies
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

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