French Government Open To Reducing Its Stake In Renault

The French government says it is willing to reduce its stake in Renault in an effort to consolidate the car manufacturer’s partnership with Nissan.

Bloomberg notes that, shortly after a proposed merger between Fiat Chrysler Automobiles and Renault fell through, French Finance Minister Bruno Le Maire said the administration is willing to reduce its 15 per cent stake at the automaker.

“We can reduce the state’s stake in Renault’s capital. This is not a problem as long as, at the end of the process, we have a more solid auto sector and a more solid alliance between the two great car manufacturers Nissan and Renault,” Le Maire said.

Also Read: French Government Denies Blame For Collapsed Renault-FCA Merger Proposal

Over the weekend, Le Maire clarified his comments to Bloomberg, indicating that France isn’t in a rush to proceed in this move in the near future, and that it will be done only under certain circumstances.

“On the agenda, there is: strengthening the alliance and protecting jobs, industrial and research sites. The second step will be consolidation — only if all parties are on board,” he said.

FCA and Renault had the opportunity to create the world’s third largest automaker if they joined forces. However, FCA unexpectedly withdrew its offer after France asked for more time to seal the deal as it tried to secure the backing of Nissan.

Nissan has long been concerned about France’s stake in Renault. According to an unnamed source, the Japanese would like to see France relinquish all of its assets in Renault, asserting that the state’s interest in Renault has generated tension within the alliance.

more photos...
2020 Opel/Vauxhall Astra Leaves A Good Chunk Of Its GM Legacy Behind

The styling changes are minor, but the revamped Astra gets an all-new, PSA-derived engine lineup that should help it keep up with its rivals.

Toyota Land Cruiser Celebrates 10 Million Units Sold Since 1951

Toyota’s iconic off-roader has been on sale for 68 years now, with the latest generation being available in 170 markets worldwide.

VW T-Roc Gains 187 HP Diesel, Two New Design Packs In Europe

Apart from the new range-topping diesel engine, VW’s compact SUV is now also available with a Black Style and Beats package .

Jaguar Insists It’s Committed To Keep Making Sedans And Sports Cars

Jag will build next-generation models of the XJ, XE and XF, in all likelihood with electrified powertrains, and won’t become an SUV-only brand.

Renault Pondering Whether The 454 HP Zoe e-Sport EV Hyper Hatch Is Feasible

Launched as a concept more than two years ago with a dual electric motor set up, it can hit 62 mph from a standstill in just 3.2 seconds.

128 HP Opel Corsa GS Line Somehow Flew Under The Radar In Frankfurt

The GS Line is a warm hatch that packs a turbocharged three-pot and is billed as the spiritual successor to the first-gen GSi.

FCA Promises Fixed UK Prices On Post-Brexit Deliveries – On One Condition

No matter the outcome of the Brexit, Fiat Chrysler will guarantee prices across its range remains the same as long as you’ve placed your order until October 31 .

No, This Backwards-Facing Pickup Isn’t Really Driving In Reverse

This Chevrolet pickup somehow passed all safety inspections in Massachusetts and is totally road legal.

Bespoke 1968 Cadillac Coupe DeVille Thinks It’s Worth Almost $45K

This ’68 Coupe DeVille was built as a show car with many custom parts and was featured at the 2016 SEMA.

2019 Renault Kadjar Makes It To Australia With 157 HP 1.3L Turbo Four

Order books for the facelifted Kadjar have opened Down Under, with prices starting at AUD $29,990.