Photo: Renault and Nissan have decided to significantly reform the auto concern (media.renault.com) Author: Konstantin Shirokun
Renault and Nissan have announced major changes within the alliance. The “reboot” of the partnership is aimed at strengthening the positions of Renault and Nissan in their key markets.
RBC-Ukraine reports this with reference to Reuters.
At the same time, the companies will reduce their cross-shareholdings, a move that will allow Nissan to sell up to a third of its stake in Renault, which could net the cash-strapped automaker about $746 million.
The parties lowered the threshold for cross-shareholding from 15 to 10 percent, while maintaining strategic parity. Nissan, for its part, is relieved of its obligations to invest in Renault's electric division, which is called Ampere. Renault buys out 51 percent of the shares of the joint venture RNAIPL (Renault Nissan Automotive India Pvt Ltd) from Nissan, becoming its full owner.
At the same time, Nissan will retain its business in the Indian market: RNAIPL will continue to produce models of the Japanese brand, including the Nissan Magnite. The plant in Chennai, with a design capacity of 400 thousand cars per year, will become the main site for new budget models on the CMF-A, CMF-A+ and CMF-B platforms.
Nissan will finally release its equivalent of the Renault Twingo for the European market – its launch is scheduled for 2026.
“As a long-standing partner of Nissan in the alliance and its main shareholder, Renault Group is extremely interested in Nissan improving its performance as quickly as possible,” summed up the CEO of the French company Luca de Meo.
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