Renault, Nissan, and Mitsubishi will base their electric models on common underpinnings in order to reduce future development costs, according to reports in Japanese newspaper Nikkei.

The Renault-Nissan Alliance is already working on shared vehicle architecture for the next-generation Leaf and Zoe models. However, this is the first time Mitsubishi – which was recently bought by Nissan – has been listed as a beneficiary of co-developed electric platforms.

Reports suggest that the engineering and development departments of the brands would work together to streamline production of parts including motors, inverters (which convert direct electric currents to alternating) and batteries.

The results would drive down costs and therefore reduce the purchase price of each model. This has long been an aim for the CEO of all three brands, Carlos Ghosn, who wants to produce electric vehicles that cost no more than their conventional combustion-engined equivalents.

In response to the reports, Nissan said no announcement has been made. The other two brands haven’t commented at this stage either.