The Renault–Nissan–Mitsubishi Alliance has been put through the wringer and things appeared to be on shaky ground. However, Renault and Nissan have now announced a series of “strategic projects.”

Starting with the fun stuff, Nissan will be getting a version of the upcoming Renault Twingo. It’s slated to arrive in 2026 and will feature unique styling created by the Japanese automaker.

More: Renault’s Updated Twingo Concept Hints At Next Year’s €20,000 EV

Little else is known about the model at this point, but the Twingo will be launched next year and cost less than €20,000 ($21,639). The EV is also expected to feature a 7-inch digital instrument cluster and a 10.1-inch infotainment system.

Outside of Europe, Renault plans to take over Renault Nissan Automotive India Private Ltd by acquiring the 51% stake currently held by Nissan. This transaction is expected to be completed later this year and Renault sees the move as a “key opportunity” to expand its international business. Speaking of which, four new models are expected to be built at the Chennai plant.

While Renault is taking over, Nissan will continue to have a presence in India. As such, the Chennai plant will continue building models such as the Nissan Magnite.

Five-seat Nissan C-SUV that will be built at Chennai plant

On the corporate side of things, Renault and Nissan have amended their alliance agreement to allow for greater flexibility of cross-shareholdings. In particular, the minimum shareholding threshold will be lowered from 15% to 10%. The change could allow Nissan to sell part of their Renault stake to raise funds for their restructuring.

While it remains to be seen if Nissan will do this, “any sale of shares would have to be made within a coordinated and orderly process with the other company, in which such other company or a designated third-party benefits from a right of first offer.”

Speaking of giving Nissan flexibility, the company is being released from its commitment to invest in Ampere. The investment was announced in July of 2023 and would have seen Nissan fork over as much as €600 ($649 / £502) million.

The amendments and termination of the Ampere investment are subject to certain conditions being fulfilled, but these are expected to occur by the end of May. When this happens, Nissan should be in better shape for the future.

Renault Group CEO Luca de Meo remarked, “As a long-time partner of Nissan within the Alliance and as its main shareholder, Renault Group has a strong interest in seeing Nissan turnaround its performance as quickly as possible. Pragmatism and business-oriented mindset were at the core of our discussions to identify the most effective ways of supporting their recovery plan while developing value-creating business opportunities for Renault Group.”

A flurry of orders, rave reviews and a Car of the Year gong proved Renault made the right decision bringing the 5 back as an EV, and now it’s taken the retro-electric idea a step further. The 5 Turbo 3E is a 535 hp (540 PS) tribute to the nutty 1980s Renault 5 Turbo rally car that reaches showrooms in 2027.

Related: Renault 5 Turbo 3E Is An Electric Hyper Hatch With Over 500 HP

Though it looks like a regular front-wheel drive 5 EV with a wide-arch kit (and you can bet plenty will be converted), the Turbo 3E is built around a bespoke aluminium platform and carries over only a few details like the rear lights and door mirrors. At 1,450 kg (3,200 lbs) VW Golf GTi.

Dual Motors, Drift Mode, and Serious Speed

It features two in-wheel motors at the back making 200 kW (268 hp / 272 PS) each and Renault promises it’ll be capable of pulling off some epic slides with the help of a drift-assist function and rally-style vertical handbrake. A sub-3.5-second zero to 62 mph (100 kmh) time is quoted, which means performance should be on a par with the Hyundai Ioniq 5 N.

A 70 kWh battery housed under the floor provides up to 248 miles (400 km) of range when driven sensibly, and unlike the everyday 5 EV, this one has 800-volt electrics, meaning it can handle 350 kW charging and fill from 15-80 percent in 15 minutes.

Compared with the stock 5 the two-seat Turbo’s 2,570 mm (101.2 inches) wheelbase is 30 mm (1.2 inches) longer and the windscreen moved back to alter the proportions. Renault says the platform was developed by Alpine so we’d be amazed if this isn’t the same architecture we’ll find under the skin of the new A110 electric sports car due very soon.

Twenty-inch wheels tucked under each distended arch appear much bigger than that and upper vents cut into each rear quarter panel send air exiting through the rear bodywork. Their lower counterparts, meanwhile are used to cool the brakes. We don’t get to see much of the interior in Renault’s picture gallery but it tells us to expect six-point harnesses, carbon trim, Alcantara coverings and 10.1-inch and 10.25-inch OpenR screens.

Retro Colors, Price TBD

Renault launched the 3E in colors that tip a hat to the 1982 Tour de Corse livery of the original Turbo, but other colors and graphics will be available, some retro and others contemporary. There’ll also be plenty of personalization options to help part wealthy buyers from even more money.

Exactly how much money they’ll need to spend to get their hands on one of the 1,980 Turbos (that number a reference to the rally car’s launch date), Renault isn’t saying. But we’re expecting it to be in the junior supercar category. American sales aren’t planned, but fans in Europe, the Middle East, Japan and Australia will get the chance to place an order in the next few weeks with first deliveries scheduled for 2027.