French carmaker Renault and its Japanese partner Nissan are closing in on an overhaul of their automaking partnership, in what could mark a sweeping reset of their two-decade alliance.
are closing in on an overhaul of their automaking partnership, in what could mark a sweeping reset of their two-decade alliance., was founded in 1999 and long dominated by former Renault and Nissan top executive Carlos Ghosn.By contrast Renault - which at the time was rescuing Nissan - took a 43% holding in its Japanese ally, giving the French a dominant role which has long been a point of contention.
After cutting 21,000 jobs, or 14 percent of the workforce, shutting some plants and overhauling Nissan's corporate structure, Nissan hits its goals a year ahead of schedule. Ghosn is feted as a business celebrity in Japan. 2005 Nissan misses its sales target, and announces a new three-year plan. Ghosn becomes president and CEO of Renault.
2017 Both Nissan and Renault post record operating profits, though Nissan still falls short on some targets. The alliance together sells more than 10 million vehicles globally, making it one of the world's biggest automakers. Tensions escalate after Renault attempts to tighten capital ties with Nissan, a move which is rebuked by the Japanese automaker.
2022 De Meo announces plans to split Renault's electric vehicles business from its combustion engine operations.
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