Nissan-Renault working on $17,000 EV

Nissan previewed a new compact hatch via the Sway concept at the Geneva motor show in 2015

Nissan plans to share the next-generation Leaf EV platform with partners Renault and Nissan, Nikkei reports, with the aim of fielding an electric car that will cost approximately $17,000.

The move has been prompted by the debut of a number of new electric cars as well as the long-term goals of other manufacturers to field EVs for the first time under subbrands. By employing a common platform among the three brands, with Mitsubishi a newcomer to the alliance, Nissan hopes to slash the cost of its EVs by 20 percent. Achieving this price target will bring EVs within the price range of Nissan's gasoline-engined offerings — something no automaker has been able to do.

Starting in 2018, Renault and Mitsubishi will switch to the Leaf platform and will no longer develop their own electric-car platforms. Currently, the French automaker offers the Renault Zoe in Europe while Mitsubishi offers the slow-selling i-MiEV. The Zoe has been selling well in the some European markets, but sales of the Leaf have recently slowed as the market anticipates EVs with far longer ranges will be offered in the near future. Mitsubishi's i-MiEV has not been updated in quite some time and is no longer seen as being particularly competitive — especially with the new crop of EVs on the horizon, which includes the Chevrolet Bolt.

While EVs from Renault will stay on the other side of the Atlantic, for U.S. electric-car shoppers, Nissan's decision reflects an industry-wide race to make EVs not only usable for every commute, even ones lasting several hours, but also to make EVs as affordable as gasoline-engined cars of a similar size. While the issue of acceptable range can be overcome with advances in battery capacity, the concern over battery cost is currently seen as one of the main impediments to entry-level-priced EVs. Nissan hopes to hit a range/price sweet spot soon with a successor to the Leaf, one that will be competitive with the 238 miles offered by the Chevrolet Bolt. AutoWeek