Shanghai (ZXZC)- Japanese automaker Nissan and its French partner Renault have jointly set up an automobile R&D company in Shanghai, local media reported on February 11.

The new joint venture, dubbed Alliance Automobile Company, was established on February 4, 2019, involving a registered capital of RMB55 million. Its business scope extends to cover the design and R&D of vehicles' (including new energy vehicles and intelligent-connected vehicles) software and auto parts as well as relevant technology consultation and services, according to the record from Tianyancha, a Chinese business data search platform.

As part of the Renault-Nissan-Mitsubishi Alliance 2022 mid-term plan, the alliance forecasts annual synergies of more than €10 billion by the end of 2022. No fewer than 40 vehicles “with different levels of autonomy” and 12 electric vehicles will be launched during the plan.

Nissan saw its China sales edge down 0.8% year on year to 133,934 units in the first month of 2019. Passenger vehicle business sector came across a slight drop of 1.4% with 113,700 vehicles sold last month. Of that, Dongfeng Nissan (including Nissan-branded imported models), delivering 100,234 vehicles, gained a growth of 2% compared with a year ago, also hit a new high in terms of Jan. sales. Besides, Donfeng Venucia had a sales volume of 13,466 units.

Two light commercial vehicle subsidiaries, Dongfeng Automobile Co., Ltd. and Zhengzhou Nissan, sold 17,259 vehicles in total, achieving a year-on-year increase of 4.5%.