Renault and Nissan want to restructure their alliance that has existed for just over 20 years. The two producers, who wish to gain more independence, are very close to an agreement.
A February 6 announcement?
Formée in 2002 under the leadership of Carlos Ghosn, the Renault-Nissan alliance allows aux constructors to develop the mastodonts of the world automobile sector, allowing them to remain independent of one of the other partners of technologies keys. However, the Carlos Ghosn affair has brought to light important rivalries within the groupwhich now wants to review the contours of its partnership.
Indeed, Nissan considers the alliance unfair to Renault’s benefit, while the French manufacturer believes it is not getting enough in return for its large investment in Nissan.
Second Wall Street Journalthe board of directors of the alliance, which includes the general directors of Renault, Nissan and Mitsubishi, who recently joined the group, as well as Jean-Dominique Senard, president of Renault, met this Thursday by video conference and agreed when the announcement would be made, i.e. in early February, according to US media. They will now convene all of their boards of directors to vote on the deal.
The contours of the new alliance
In recent months, the top management of the two companies have multiplied the round trips between France and Japan to agree on this new agreement. Thus, Renault to reduce its stake in Nissan from 43% to 15%. In exchange, the Japanese manufacturer will invest in Renault’s electric vehicle division. The companies plan to announce several projects in India and Latin America at the same time.
The biggest obstacle to getting the deal is intellectual property, as the two companies have been developing new technologies together for several years. In October, the French automaker announced plans to split into several divisions, placing its core business in a joint venture with Chinese giant Geely and detailing plans for a separate public listing of its electric vehicle division. These entities will be open to external investors.
For example, Nissan declined to share its e-Power hybrid technology within Renault’s combustion engine business, which is to be merged with Geely. Currently, the companies try to agree on how to protect Nissan’s intellectual property in the event of a transfer to the electric vehicle branch of Renault.
Support from the French government
The deal is backed by the French state, which is Renault’s largest shareholder with a stake of more than 15%. Moreover, Emmanuel Macron recently assured the Japanese Prime Minister, Fumio Kishida, of this France would not oppose a rebalancing of the alliance.
Bruno Le Maire, Minister of Economy, Finance and Industrial and Digital Sovereignty, made similar observations in a letter to his Japanese counterpart.
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