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Renault-Nissan. Changes in the alliance of giants – Nissan will buy shares in Ampere

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Nissan will buy up to 15 percent of Ampere, which is responsible for developing new electric car models at Renault, automakers announced on Monday. The concerns announced changes in the alliance that lasted nearly 24 years.

The BBC reported that Nissan and Renault on Monday revealed details of major changes to their nearly 24-year alliance. The announcement came after months of negotiations between the giants of the automotive industry. In a joint statement, the companies said they had “rebalanced” their relationship.

Changes in the Renault-Nissan alliance

As announced, Renault will reduce its stake in Nissan from around 43 percent to 43 percent. up to 15 percent This will be equivalent to Nissan’s current stake in Renault. The French manufacturer will have the flexibility to sell the shares of the Japanese concern, which will go to the trust fund. Nissan will have a pre-emptive right to buy the shares.

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On the other hand, the Japanese manufacturer will buy up to 15 percent. shares in Ampere, which is responsible for the preparation of new models of electric cars at Renault

Renault’s board of directors approved changes to the alliance on Sunday, according to Reuters sources. Nissan’s management was supposed to do it on Monday.

“I believe that what we have agreed is a much better solution than what we have had in recent years,” said the chairman of the alliance’s board of directors, Luca de Meo, at a conference in London. – We now have a new management scheme that is much simpler, we can now operate as a normal company. From Renault’s perspective, it’s about regaining a certain strategic prowess without having to break existing links and synergies.”

Luca de Meo at a press conference in LondonEPA/ISABEL INFANTES

“Last Try to Save the Alliance”

Christopher Richter of investment group CLSA said the changes were necessary to keep an alliance that spanned more than two decades alive. “This is the last attempt to save an alliance where the two partners don’t get along very well,” Richter told the BBC.

The alliance between Renault and Nissan was established in 1999. In 2016, Mitsubishi joined it. Relations between the companies were shaken in November 2018, when its founder, former Nissan CEO Carlos Ghosn, was arrested. Reuters noted that relations between the two carmakers were “deeply strained” at the time.

Ghosn was arrested in connection with allegations that he understated his salary in financial statements from 2011 to 2018, as well as embezzled company funds. The businessman pleaded not guilty to the charges against him.

Main photo source: EPA/ISABEL INFANTES

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