Renault and Nissan officially seal joint venture accords within the Alliance
Renault and Nissan Sign New Alliance Agreement to Strengthen Partnership
In a significant move, Renault Group and Nissan have signed a new Alliance agreement aimed at rebalancing cross-shareholdings and strengthening their long-standing partnership.
The definitive agreements formalize the rebalancing of cross-shareholdings between the two automotive giants. Renault Group will transfer 28.4% of its Nissan shares to a French trust, where voting rights will be 'neutralized', subject to certain exceptions. Nissan, on the other hand, has agreed to invest up to €600 million in Ampere, Renault Group's new entity dedicated to electric vehicles and software in Europe.
Jean-Dominique Senard, President of the Alliance, declared that these agreements will open a new chapter for the Alliance and strengthen their partnership. He further added that the agreements aim to maximize collaboration within the Alliance in three areas: high-value creation operational projects in India, Latin America, and Europe; increased strategic agility with new initiatives that partners can join; and rebalanced cross-shareholdings between Renault Group and Nissan and strengthened Alliance governance.
Luca de Meo, CEO of Renault Group, stated that the agreements provide a solid foundation for restarting operations worldwide on key markets, with a potential value generation in the hundreds of millions for Renault, Nissan, Mitsubishi, and their stakeholders. Makoto Uchida, President and CEO of Nissan, concurred, stating that the agreements will enable a new phase of collaboration with Renault and Mitsubishi Motors in mutually beneficial areas of innovation.
The collaboration will create additional value through initiatives aligned with the Ambition 2030 plan and Nissan's electrification strategy. The investment in Ampere complements and reinforces Nissan's ongoing electric offensive in Europe. Nissan will become a strategic investor in Ampere and hold a seat on its board.
The agreements lay the groundwork for a new balanced, fair, and efficient governance. The voting rights of Renault Group and Nissan will be capped at 15% of exercisable voting rights. Nissan will have a right of first offer when Renault Group decides to sell the Nissan shares held in trust.
Partners are planning new key projects in Latin America, India, and Europe that aim to deliver mutually beneficial, large-scale, and tangible results for Alliance members. These projects are expected to enable numerous synergies, particularly in terms of cost efficiency, regulatory compliance, and expansion of the electric vehicle product range and powertrains.
The company Ampere in Europe was founded by the French automotive group Renault as part of its new electric vehicle division. The specific founder's name for the Ampere entity itself is not detailed in the search results.
The agreements will undoubtedly mark a new era for the Renault-Nissan Alliance, with both parties committing to renewed investment and collaboration in key markets such as India and Europe. With a focus on electrification and strategic agility, the Alliance is poised to face the challenges of the future with renewed vigor and partnership.
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