The Renault-Nissan Alliance could be consolidating all of its electric vehicle platforms, following its acquisition of a 34% stake in Mitsubishi Motors Corporation. The new combined platform would help lower the cost of electric vehicles by utilising scale of economies, according to the Nikkei Asian Review.

For all future electric vehicles, Renault and Mitsubishi will use the platform which forms the basis of the next-generation Nissan Leaf, and the three brands are to share key components such as the motor, battery and inverter, which will help lower the Leaf’s price by about 20% for a starting price of approximately $17,000 (RM76,131), it said.

“We believe the synergies will return 10 percent of Nissan’s investment in 2017 already and more than 20 percent the year after. As our partnership grows in the years to come, we will identify additional synergies at the regional level, as well as explore specific benefits for Renault and our other partners,” said Nissan chairman and CEO Carlos Ghosn.

Nissan-Renault’s acquisition of a 34% stake in Mitsubishi comes after the latter was found to have overstated its cars’ fuel efficiency, eventually leading to the resignation of its president and Nissan-Renault’s stake acquisition.