Renault and Nissan will announce new stage of cooperation
2023.01.26 10:23
Renault and Nissan will announce new stage of cooperation
By Ray Johnson
Budrigannews.com – Automobile manufacturer Renault (EPA:) and Nissan, its Japanese partner (OTC:) Two people who are close to the situation told Reuters on Thursday that Motor intend to formally announce a deal to reshape their alliance on February 6 in London.
Following months of intense negotiations regarding how to reset their long-standing partnership, the leaders of the two businesses met on Thursday for an alliance board meeting via video link. Sources previously told Reuters that they chose that format rather than having Renault CEO Luca de Meo and Chairman Jean-Dominique Senard travel to Japan because the talks were moving forward well.
After the meeting on Thursday, each of the two companies’ boards would still need to approve a potential deal.
Nissan wants Renault, its largest shareholder, to sell down its roughly 43% stake and bring the 23-year alliance to a more equal footing, while Renault wants the Japanese automaker to invest in its new electric vehicle business.
While a Nissan spokesperson declined to comment on Thursday, Renault has consistently declined to make public statements regarding the negotiations with its Japanese partner.
One of the sources told Reuters that the two businesses are expected to announce five joint projects to relaunch the alliance. These projects will cover manufacturing, technology, and further geographical development, including in India.
It was not immediately clear whether agreements to produce the Nissan Micra’s successor at a Renault plant in France and with junior alliance partner Mitsubishi Motors (OTC:) had already been made. Those five projects would include the new ASX and Colt manufactured by Corp at Renault plants in Spain and Turkey.
De Meo, the head of Renault, has stated that the business had made a proposal to collaborate on 10-15 projects.
Both Mitsubishi Motors and the French-Japanese partnership will be affected by the alliance’s future form. It also shows how the huge technological shifts in the auto industry are forcing businesses to partner with a staggering number of newcomers and tech companies and compete with them.
For instance, Renault has stated that it will collaborate with companies belonging to China’s Geely Automobile Holdings (OTC:). to the giant of semiconductors Qualcomm (NASDAQ:) Inc. Nissan has been worried that Renault’s partners could get their hands on the technology it developed while working with Renault.
