Japanese automaker Nissan and its French partner Renault have unveiled details of their redesigned alliance. Both companies announced new joint projects in search of a “freer and more balanced” agreement for the next 15 years. Among other resolutions, Renault will reduce its stake in Nissan from 43% to 15%, while the Japanese company will invest in the French company’s flagship business, which will be listed on the market.
A ‘rebalanced’ alliance in which both parties agreed. The redesign of the agreement that was projected for 24 years will define the path of those in the automotive sector for the next 15 years and proposes a more homogeneous relationship that aims to end conflicts between the parties.
The directors of both companies approved equalizing the participation that each has in the other. The new percentage is 15% for the two manufacturers, much less than the 43% that the Japanese Nissan had over the French Renault.
These initiatives would complement ongoing areas of technology collaborations such as:
✅ All Solid-State Battery (ASSB)
✅ Software-Defined Vehicle (SDV)
✅ Advanced Driver Assistance Systems (ADAS) & autonomous driving. pic.twitter.com/A75asdlgEf
—Renault Group (@renaultgroup) February 6, 2023
Mitsubishi Motors Corp, the third player in this partnership, must also submit to this percentage of participation to prevent unequal values from being a source of conflict in the alliance.
“I think that what we have agreed to is a much better set-up than what we have had in recent years. Now we have a new governance scheme that is much simpler, now we can operate as a normal company. Seen from Renault, it is about to regain some strategic agility without necessarily breaking the ties and synergies that existed,” Renault chief executive Luca de Meo said from London, UK.
With the announcement of this Monday, February 6, the relationship between the car manufacturers was revived, which had fissures after the controversial arrest of the former president of Nissan, Carlos Ghosn, in 2018.
Another of the new points of the agreement states that Nissan will invest in the EV unit of Renault, the flagship business of the French manufacturer that is expected to be listed on the market. A project that has not had an exact valuation figure, although it has been estimated at over 10,000 million euros.
With Reuters and EFE
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