Renault and Nissan can improve their alliance without altering their ow...
) can improve their alliance without altering their ownership structure, the chairman of the Franco-Japanese partnership said on Thursday, rolling back a previous push toward a full-blown merger that rankled Nissan.
Renault and Nissan have struggled to repair a relationship badly strained after the arrest of Ghosn, who fled Japan to his childhood home of Lebanon at the end of last year. He has been charged with financial misconduct, which he denies. Renault SA, which is part-owned by the French state, owns 43% of Nissan Motor Co, while the Japanese firm has 15% of the French carmaker, with no voting rights - a structure that has caused friction in Japan, given Nissan is the larger of the two.
A similar model will be taken for engineering, where one company will lead in developing a key technology that would then be shared among the partners, the companies said in a statement.The three companies, which together sold nearly 11 million vehicles in 2018, will announce revised mid-term plans by May, Uchida said.
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