Renault, Nissan and Mitsubishi will invest EUR 23bn as part of the alliance's five-year electric vehicle strategy.
The plan is to launch 35 new battery-powered vehicles by 2030, writes Bloomberg News.
As part of the strategy, the three automakers will manufacture 80 percent of the 90 car models on their joint platform going forward, up from the current 60 percent.
Nissan will be in charge of developing new battery technology for the alliance's vehicles while Renault will be responsible for developing electric and electronic architecture.
The French car maker expects to have its first software-defined vehicle ready in 2025.