France And Japan To Discuss The Future Of The Renault-Nissan Alliance

France and Japan are set to discuss the future of the Renault-Nissan alliance following the recent ousting of long-time chairman Carlos Ghosn.

Automotive News reports that French President Emmanuel Macron and Japanese Prime Minister Shinzo Abe will discuss the issue during the G20 summit in Argentina. The French government has a 15 per cent stake in Renault, while Renault controls Nissan with its 43 per cent stake and Nissan holds a 15 per cent non-voting stake in Renault.

The French government has said that it wants to retain the current capital structure for the alliance. Speaking to French television, French Finance Minister Bruno Le Maire claimed that he and Japanese Industry Minister Hiroshige Seko had agreed that keeping the alliance’s existing capital structure was desirable. However, Seko has since denied this and sent a letter of protest to Le Maire for his remarks.

Following the arrest of Ghosn, Nissan has asserted that Renault has too much control over it. In 2015, Macron instructed the French government to increase its stake in Renault to 15 per cent, raising concerns from Nissan that France may start to yield too much influence over the Japanese economy.

Authorities in Tokyo revealed on Friday that Ghosn’s detention had been increased by a maximum 10-day extension. To keep the influential automotive figure in custody, prosecutors must file charges against him or arrest him on suspicion of new crimes.

Carlos Ghosn was arrested on November 19 in Japan on charges of not reporting his full compensation. He was quickly ousted by both Nissan and Mitsubishi as chairman, but Renault has kept him as chief executive and chairman for the time being.

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  • sidewaysspin

    Nissan is rejecting the takeover from Renault same way Suzuki rejected the takeover from Volkswagen, the Japanese seem to like to remain independent.

    • Ed Ward

      Renault owns half of Nissan and VW had to deal with a family controlled Suzuki. Nissan will never be able to run from Renault.

      • Mind Synthetic

        they get voting rights, they don’t own nissan

        • Ed Ward

          Ok, they don’t own 57% of Nissan but the 43% they do own gives them controlling power, that’s why Nissan wants the same treatment, Nissan wants more power and especially wanting the French government to divest their shares in Renault.

          • Mind Synthetic

            They want in independence, not control over Renault. Renault is a pile of rubbish and had nothing apart from good designers. And voting rights is not the same as controlling power, Nissan is it’s own company thank god

          • Ed Ward

            Understand this , Renault bought 43% of Nissan when Nissan was desperate and broke and no one wanted them because of their debt, Chrysler even blocked Daimler from purchasing Nissan because of its debt. Nissan only owns 15% of Renault with no veto power whatsoever. Nissan brings in most of the income and wants in on decision making with more ownership of Renault AND Nissan would love for the French government to sell it’s 15% shares in Renault to them. Nissan don’t like the idea of being controlled by a foriegn government.

  • Socarboy

    Nissan would be well served to buy their way out of alliance and divest themselves of Renault

    • Anton Yuri Calderon

      Yep!

    • Ed Ward

      Renault will never let that happen

      • Mind Synthetic

        careful its French might catch on fire or surrender

  • Six_Tymes

    If they don’t follow his direction, and his ideas, and future plans, those companies will eventually go downwards. no one has business vision like he does.

  • Paulo_Mathias32

    Japanese people are extremely racist and such a coup should be completely acceptable if it prevents a foreigner from running one of their companies. The ends justify the means for blind nationalism.

    • Mr. EP9

      I’m not so sure about that. In addition to under-reporting his income, Ghosn was also accused of turning a blind eye to numerous defective Nissans being delivered in Japan and letting other execs deal with the problem; let’s not forget he wanted to merge Nissan and Renault. And we know Nissan didn’t like the idea one bit. Although we can only speculate as to why he was really removed, I doubt protectionism and racism was the driving force behind it.

    • Mind Synthetic

      seems like you are racist against Japanese yourself

  • Mind Synthetic

    he didn’t, he enslaved them. and last time I heard stealing (on top of that from the company that puts bread on your table) is illegal

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