Renault and Nissan confirm talks over future of their alliance partnership
2022.10.10 03:29
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© Reuters. FILE PHOTO: The logos of car manufacturers Nissan and Renault are pictured at a dealership Kyiv, Ukraine June 25, 2020. REUTERS/Valentyn Ogirenko/File Photo
PARIS (Reuters) – PARIS, Oct 10 (Reuters) – French carmaker Renault (EPA:) and its Japanese partner Nissan (OTC:) said they were holding “trustful discussions” about the future of their alliance, adding that Nissan was considering investing in Renault’s future electric vehicle unit.
“The companies continue to drive structural improvements to ensure sustainable Alliance operations and governance. Any further communication will be done in due course by the Alliance members,” added Renault and Nissan in a joint statement on Monday.
A source familiar with the matter said Nissan was pressing its French partner to cut its stake in the Japanese automaker as much as possible, ideally to 15%, and may consider raising funds to buy back the shares.
Renault shares were up 5% in early session trading, making the stock the best performer on France’s benchmark CAC-40 equity index.
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