Renault said it would end its common purchasing agreements with Alliance partners Nissan and Mitsubishi by the end of 2023.

The companies agreed a restructured alliance in July, following 10 months of negotiations.

Renault said the alliance would now move from a standardised global model towards "project driven cooperation to enable quick and agile decisions".

This new model would use each company’s geographical strengths, technical resources and market expertise to support respective strategic plans.

The carmaker said the new structure would help in adapting to the “new trend of the automotive industry”, including more regionalised markets due to regulation differences and electrification and connectivity needs.

The purchasing function would be turned into distinct organisations focused on a project by project approach.