The automaker alliance of Nissan Motor, Renault and Mitsubishi Motors are in talks to set up a new company to jointly develop technologies for next-generation vehicles.

Joining the technologies and human resources of the three companies could increase efficiency in vehicle development, which requires huge research investments.

The new company will focus exclusively on technology for next generation cars, such as AI and communication functions.

Executives from the three companies began discussing the proposal at a meeting Thursday at Renault headquarters on the outskirts of Paris. The alliance could announce a joint management plan by the end of the year, according to reports from Japan.

Automobile rivals General Motors and Toyota Motor, as well as tech companies such as Google parent, Alphabet, have a head start in the development of autonomous driving.

The development comes one year after the arrest of former alliance leader Carlos Ghosn, which brought tensions between Nissan and Renault.

Renault-Nissan-Mitsubishi held its monthly Alliance Operating Board Meeting in Boulogne-Billancourt, France, attended by Jean-Dominique Senard, Chairman of the Alliance Operating Board and Renault, Makoto Uchida, nominated CEO Nissan Motor Co, Osamu Masuko, Chairman Mitsubishi Motors, Clotilde Delbos, acting CEO Renault, Takao Kato CEO Mitsubishi Motors, Ashwani Gupta, nominated COO Nissan Motor Co, Jose-Vicente de Los Mozos, acting Deputy CEO Renault and Olivier Murguet, acting Deputy CEO Renault.

The Alliance Operating board has decided to appoint a General Secretary to be named in the coming days. The General Secretary will report to the Alliance Operating Board and CEOs.