Updated: Renault and Nissan equalise Alliance partnership

Renault and Nissan have concluded negotiations for a refreshed alliance that sees the two car makers become equal partners.

The deal sees Renault reduce its stake in Nissan to 15%, from 43%, and put the remainder of its shares in a French trust. As a result, both car makers retain an equal cross-shareholding.

Nissan gain equal voting rights within the Alliance, as a result of the changes, giving it greater autonomy.

Jean-Dominique Senard, chairman of The Alliance, said: “The agreements that have been signed today allow us to step into the next chapter of the Alliance. They strengthen our long-standing partnership and will maximise value creation for each Alliance member. This also lays the foundations for a new balanced, fair, and effective governance.”

As part of the cooperation, Nissan has confirmed its intention to become a strategic investor in Ampere, Renault Group’s new EV and software entity in Europe.

Renault and Nissan have been strategic partners since 1999.

The agreements are being finalised and the transaction remains subject to the approval of the boards of directors of Renault Group and Nissan.

Makoto Uchida, president and CEO of Nissan Motor Co, said: “With the finalisation of the definitive agreements, we have entered the next phase of collaboration with Renault and Mitsubishi Motors in mutually beneficial areas of innovations. This will create additional value through initiatives aligned to Nissan's Ambition 2030 and electrification strategy.  The investment opportunity in Ampere complements and strengthens Nissan’s ongoing electric push in Europe and will deliver numerous synergies, including cost efficiencies, regulatory compliance, and a broader range of EV products and powertrains.”

Luca de Meo, CEO of Renault Group, added: “These agreements provide us with a solid base to reactivate business operations worldwide in key markets, with the potential to generate hundreds of millions in value for Renault, Nissan, Mitsubishi and stakeholders. They give us the strategic agility that we need more than ever in today’s rapidly evolving environment. We are all engaged with the right mindset and welcome Nissan as a strong partner in our upcoming EV and Software pure player Ampere. It confirms the attractiveness of the project to be front runner in Europe, allowing Renault and its Alliance partners to position themselves ahead of the starting grid for the EV and software race in Europe.”