Nissan will launch a full-electric successor to its Micra small automotive that will likely be based mostly on a brand new EV platform shared with the upcoming Renault 5.

The Micra will likely be designed by Nissan, engineered by alliance companion Renault and constructed at Renault’s ElectriCity community of factories in Douai, France.

The battery-electric hatchback will use Renault-Nissan’s new CMF-BEV alliance platform that was introduced by alliance executives on Thursday after they unveiled a joint 23 billion-euro ($26 billion) electrification plan.

Nissan mentioned the electrical Micra will match inside combustion engine automobiles on value.

“That is certainly one of best segments in Europe,” Ashwani Gupta, Nissan COO, mentioned in the course of the presentation. “To have an electrical automotive on this phase you have to be aggressive by way of efficiency and by way of value. CMF-BEV goes to be very aggressive.”

The CMF-BEV platform carries over 60 p.c of components from the CMF-B inside combustion engine platform utilized by alliance automobiles such because the Renault Clio and Nissan Juke, Gupta mentioned.

Renault CEO Luca de Me mentioned the platform is designed for automobiles which might be 3,900-mm to 4,200-mm lengthy and it’ll have room for a battery pack barely greater than 50 kilowatt-hours to present a spread of as much as 400 km (249 miles).

He described the platform as a “gamechanger” for decreasing prices, which he mentioned had been 33 p.c decrease than these for the Renault Zoe small-car platform. “That is the very best compact EV platform on the earth,” he mentioned.

The CMF-BEV platform will likely be utilized by the Renault, Nissan, Dacia and Alpine manufacturers and can underpin 250,000 automobiles a yr, a slide used within the presentation confirmed. The comparatively low quantity suggests will probably be restricted to Europe solely.

The primary automotive to make use of the CMF-BEV platform will likely be launched in 2024, the alliance mentioned however executives participating within the presentation didn’t say which automotive it could be. Renault has beforehand mentioned that the retro-styled Renault 5 will likely be launched in 2023.. the announcement on Thursday suggests the launch date has been pushed again.

Nissan has seen demand fall for the Micra lately, and gross sales of the small hatchback fell 9 p.c to 34,847 in Europe lasr yr, in keeping with information from JATO Dynamics market researcher. The Micra is at the moment constructed at Renault’s plant in Flins, France.

Manufacturing of the present mannequin started in 2017, when Renault predicted it could construct round 132,000 a yr.