The automakers said on Thursday (January 27) they have a $26 billion investment plan for the next five years.
The companies have long worked together in a partnership that also includes Mitsubishi, and want to stay competitive in the switch to cleaner driving.
They said they will raise the number of common platforms for electric vehicles from four to five.
Renault Group CEO Luca De Meo.
"With these four platforms, we are the only one step away from being fully equipped for the big shift towards electrification, and we are ready to take this final step, thanks to the CMFB-EV platform that we will launch in 2024."
The firms said they would build a combined EV line-up of 35 vehicles by 2030.
And they will need all the resources they can get as they face down tough competition.
In December, Toyota pledged to spend $70 billion on electrification.
While earlier this week, Elon Musk's Tesla forecast deliveries would rise 50% this year.
The Renault-Nissan investment plan is also only around half that planned by Volkswagen.
But De Meo says it will be sufficient given the group's long experience making EVs like the Nissan Leaf.
