Particle.news
Download on the App Store
5 ARTICLES
·
3w ago

Renault and Nissan Restructure Alliance, Reducing Cross-Shareholdings and Shifting EV Strategy

The automakers cut cross-shareholdings to 10%, end Nissan's Ampere investment commitment, and prepare for leadership changes at Nissan.

A Nissan logo is seen next to a vehicle during the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. REUTERS/David 'Dee' Delgado/File Photo
Image
Image
Renault Group and Nissan have entered into a share purchase agreement to this effect.

Overview

  • Renault and Nissan have agreed to reduce their cross-shareholdings from 15% to 10%, signaling a major shift in their decades-long partnership.
  • Nissan is no longer required to invest 600 million euros in Renault's electric vehicle unit, Ampere, reflecting a recalibration of their EV strategy.
  • Renault plans to acquire Nissan's minority stake in their joint Indian venture, Renault Nissan Automotive India Private Ltd (RNAIPL), by mid-2025.
  • Renault reaffirmed its financial forecast of at least 2 billion euros in free cash flow for 2025, despite a 200 million euro impact from the RNAIPL acquisition.
  • Ivan Espinosa will assume the role of Nissan CEO, taking on the challenge of improving the company's competitiveness during this transitional phase.