Renault, Nissan officially reboot their auto alliance for post-Ghosn era
LONDON — Automakers Renault and Nissan on Monday formalized their reboot of a relationship that had grown rocky, culminating in theThe boards of both companies approved
“We have been waiting a long time for this moment,” Renault board Chairman Jean Dominique Senard said at a news conference in London, calling it a “new era."and software entity in Europe that Mitsubishi also will consider investing in. The automakers said they will collaborate in markets worldwide, including Latin America, Europe and India.
The long speculated changes to the carmaker alliance were announced a week ago. Shares equivalent to a 28.4% stake will be transferred to a French trust, according to the companies. Nissan Chief Executive Makoto Uchida vowed to take the alliance to “the next level of transformation” to adapt to a new era.In theory, partnerships are a good way for automakers to cut costs by sharing parts, production and technology, especially when the industry is going through such dramatic change with EVs.
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