Renault and Nissan announce an agreement to rebalance the governance of their alliance

New agreement between Renault and Nissan.

REUTERS/Amir Cohen

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1 min

A new start for the Renault-Nissan couple.

On Monday February 6, the two manufacturers announced an agreement to rebalance the governance of their alliance.

They also announced new industrial projects.

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This new partnership places Renault and Nissan on an equal footing in the governance of their alliance, the French brand will therefore no longer have control over its Japanese partner, for a period of 15 years.

This

had been demanded by Nissan for years.

The relationship between the two car manufacturers had been complicated by the surprise rise of the French State to the capital of Renault, in 2015. Then by the spectacular

, then boss of the alliance, and arrested at the end of 2018 in Japan for charges of financial embezzlement. 

Nissan boss Makoto Uchida stressed on Monday February 6 that this rebalancing was necessary to rebuild "

" between manufacturers.

New joint projects 

As a sign of this new start, the two manufacturers have also announced the launch of several industrial initiatives on the South American, European and Indian markets.

For example: in Argentina, Nissan will launch a pickup designed by Renault, while in Europe, the French manufacturer will share with the Japanese its FlexEvan electric utility project.

These joint projects could bring in hundreds of millions of euros, or even billions of euros, each year, hopes Luca de Meo, the managing director of Renault.

“

,” he assured Makoto Uchida.

In total, Renault, Nissan and Mitsubishi, which joined the alliance in 2016, will invest 23 billion euros in the production of electric vehicles over the next five years. 

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