Renault, Nissan To Reboot Alliance? According to Reuters, French car maker Renault and its Japanese partner Nissan Motor plan to formally unveil a deal to reshape their alliance in London
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French car maker Renault and its Japanese partner Nissan Motor plan to formally unveil a pact to reshape their alliance in London on 6 February, sources told Reuters. The firms are recalibrating their decades-old alliance.
"Leaders of the two companies met via video link, the meeting had gone off without a hitch but there were details that still needed to be worked out. As of today, we cannot say that we have reached an agreement," another source close to the development told Reuters.
Renault wants the Japanese automaker to invest in its new electric-vehicle business while Nissan wants Renault, its top shareholder, to sell down its roughly 43 per cent stake. Renault has consistently declined to comment publicly and a spokesperson for Nissan also declined to comment, the report added.
The two companies are expected to announce five joint projects to relaunch the alliance, covering manufacturing, technology and further geographical development, including in India. The report further clarified that it was not immediately clear if already announced deals to produce the successor to the Nissan Micra in a Renault plant in France and junior alliance partner Mitsubishi Motors Corp (7211.T) new ASX and Colt in Renault plants in Spain and Turkey would be considered part of those five projects. "The future shape of the Franco-Japanese alliance has implications for both companies as well as Mitsubishi Motors. It also highlights how the immense technological upheaval in the auto industry is forcing companies to both partner and compete with a dizzying number of newcomers and tech firms," quoted the report.
In October 2022, Renault Group and Nissan Motor released a statement about engagement of trustful discussions around several initiatives as part of continued efforts to reinforce the cooperation and the future of the alliance. The discussions included an agreement on a set of strategic common initiatives across markets, products, and technologies. The companies continued to drive structural improvements to ensure sustainable alliance operations and governance.
