Watch: Renault and Nissan unveil new agreement to reboot alliance in London
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Renault and Nissan unveiled their agreement to reboot their 24-year-old alliance at a London news conference.
The French carmaker Renault and its Japanese partner Nissan announced the unavailing in a joint statement last week.
It will see Nissan invest in Renault’s new electric vehicle business in the renewal of the partnership.
The car manufacturers have agreed to make their mutual cross-shareholdings equal at 15 per cent.
This move smooths out a conflict point between the auto giants.
Renault Group is to transfer 28.4 per cent of its Nissan shares into a French trust.
This will balance out the 15 per cent share that Nissan Motor Co. has in Renault.
In a previous statement, they also detailed that voting rights would be “neutralized” for most decisions.
CEOs of both Renault and Nissan spoke at the news conference, alongside the CEO of Mitsubishi Motors.
Sign up for our newsletters.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments