Electric Vehicles

Nissan, Renault Announce Major Rejig of Car Alliance


Nissan Motor Company and Renault said on Monday they have agreed to a major rejig of the Franco-Japanese car production partnership.

The deal will put the two carmakers on an equal footing and see the Japanese company invest in Renault’s new electric vehicle business.

The announcement came after nearly four months of intense talks that sources said were complicated by concerns about intellectual property sharing, as Renault had sought to build new tie-ups with companies outside the alliance.

The agreement – which needs to be ratified by both companies’ boards – would see Renault cut its stake in Nissan to 15% from around 43%, and transfer the 28% stake in the Japanese automaker to a French trust, Renault said.

Renault would then instruct the trustee to sell those shares, worth around $4.1 billion at current market values, if commercially reasonable for the French automaker, in a coordinated and orderly process, it added.

Nissan also said it would invest in Renault’s new battery-electric vehicle unit.


Nissan-Renault Talks Focus on EV Strength, Equal Partnership


Renault shares up 25%

Since the two automakers announced they were in negotiations to restructure their alliance in early October, shares in Renault have gained almost 25%, while Nissan shares are up just 3%.

The future shape of the auto alliance has implications for both companies as well as their junior partner, Mitsubishi Motors Corp.

It also highlights how the immense technological upheaval in the auto industry is forcing companies to both partner and compete with a dizzying number of newcomers and tech firms.

Renault, for instance, has said it will partner with companies from China’s Geely Automobile Holdings to semiconductor giant Qualcomm.

The French company is separately working to finalise a deal with Geely and to bring Saudi Arabian state oil producer Aramco in as an investor and partner to develop gasoline engines and hybrid technologies.


  • Reuters with additional editing by Jim Pollard





Japan Automaker Suzuki to Invest $35bn in EVs, Batteries


China Dominates Clean Energy, as Well as EV Batteries – FP


Chinese Carmakers Are Tesla’s ‘Hardest, Smartest’ Rivals: Musk


Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years and has a family in Bangkok.

Recent Posts

VW Vows to Stay Ahead as China EV Revolution Gathers Pace

Volkswagen executive Stefan Mecha said the firm is committed to investing $16.26 billion in the…

16 hours ago

China Developer Sunac Posts $2 Billion 2022 Core Loss

The real estate firm was among many Chinese developers that defaulted last year as the…

17 hours ago

China’s Huawei Claims ‘Crisis is Over’ After Revenue Rise

The firm said it was now "out of crisis mode” following years of painful US…

18 hours ago

China to Check US Chip-Maker Micron Products in Security Review

The Cyberspace Administration of China said the move was aimed at protecting supply chains and…

2 days ago

Elon Musk Seen Hoping to Meet China PM on Next Visit

Musk met Li Qiang in 2019 when he was party secretary in Shanghai. Sources say…

2 days ago

Russia Wants All India Trade in Rupee-Ruble – Firstpost

Increasing oil deals between the two countries have already begun to corrode the US dollar’s…

2 days ago