The Renault-Nissan alliance has withstood the test of time and has even been expanded to include Mitsubishi. However, after several months of “constructive discussions,” the two companies are now redefining their partnership.
In joint statements, the automakers said they want to strengthen the alliance and “maximize value creation for all stakeholders.” As part of this effort, the companies will work together on “high-value-creation operational projects” in Latin America, India, and Europe. Renault and Nissan didn’t go into many specifics, but said these projects would involve “markets, vehicles and technologies.”
Furthermore, Nissan will be investing in Renault’s Ampere with the goal of becoming a strategic shareholder. Announced last year, Ampere is a standalone company focused on electric vehicles and software. It aims to “develop, manufacture, and sell full EV passenger cars, with cutting-edge software-defined vehicle technology, under the Renault brand.”
Also: Renault And Nissan Set To Revise Alliance, Collaborate On New Projects
Lastly, Renault and Nissan are seeking “balanced governance and cross-shareholding to foster accelerated operational efficiencies.” This would see both companies retain a 15% stake in the other and each would be able to “freely exercise the voting rights attached to their 15% direct shareholding.”
To get down to a 15% stake, Renault would transfer 28.4% of their Nissan shares into a French trust where voting rights would be “neutralized” for most decisions. This is essentially a hands-off approach and Renault is willing to sell the stake if “commercially reasonable.”
Details are still being finalized and the companies noted everything “remains subject to the approval of the boards of directors of Renault Group and Nissan.”
