June 13, 2018 / 6:31 AM / 6 months ago

Renault-Nissan-Mitsubishi alliance says on track for cost savings goal

FILE PHOTO: Carlos Ghosn, chairman and CEO of the Renault-Nissan-Mitsubishi Alliance, responds to a question on the alliance's new venture capital fund during roundtable with journalists at the 2018 CES in Las Vegas, Nevada, U.S. January 9, 2018. REUTERS/Steve Marcus/File Photo

PARIS (Reuters) - Annual synergies in the Renault-Nissan-Mitsubishi alliance reached 5.7 billion euros ($6.69 billion) in 2017, up 14 percent from a year earlier, the companies said on Wednesday, adding they were on track to meet 2022 cost savings targets.

In a statement, the members of the alliance confirmed a goal to hit more than 10 billion euros in synergies by the end of 2022.

Reporting by Sarah White, Editing by Maya Nikolaeva

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