Renault and Nissan more on an equal footing after decades
After months of consultation, the mutual relationship between Renault and Nissan is being overhauled. Renault significantly reduces its stake in Nissan, with the result that Renault and Nissan are more on an equal footing.
There have been tensions between Renault and Nissan for decades. To date, Groupe Renault held a 43.4 percent stake in Nissan, while Nissan owned only 15 percent of Renault’s shares. In addition, the French had the right to vote in Nissan decisions, but not the other way around. Moreover, Nissan is a larger car manufacturer than Renault worldwide. Significant reforms are now being implemented between the two brands.
Renault reduces its share in Nissan from more than 43 percent to 15 percent. The 28 percent that Renault sells goes to a French fund that is instructed to sell these shares if the Groupe Renault deems the price to be received reasonable. From now on, voting rights are also attached to Nissan’s share in Renault.
Nissan also reports that it will become a shareholder in Ampere, the EV branch within Renault Group. Together, Renault and Nissan indicate that it is starting new projects in Europe, India and Central and South America, among others. The plans still have to be approved by the Board of Directors of Groupe Renault and Nissan.
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