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Tuesday 14 Jan 2020 , 10:55 am

Renault, Nissan say alliance not headed for break-up

The companies claim that the Nissan - Renault - Mitsubishi alliance is solid, robust, everything but dead and the media reports claiming the break are false.
By SIN Bureau
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French carmaker Renault and Japanese partner Nissan Motor said their alliance was in no danger of being dissolved, denying a media report of a potential break-up that sent their shares skidding to multiyear lows.

The alliance, which also includes Japan’s Mitsubishi Motors Corp, is “solid, robust, everything but dead,” the chairman of Renault, Jean-Philippe Senard, told Belgian newspaper L’Echo.

Nissan, in response to “speculative international media reports,” said it was “in no way considering dissolving the alliance.”

“The alliance is the source of Nissan’s competitiveness,” the Japanese automaker said in a statement. “Through the alliance, to achieve sustainable and profitable growth, Nissan will look to continue delivering win-win results for all member companies.”

Renault shares hit six-year lows on Monday as investors worried the French group’s 20-year cost-sharing alliance with Nissan was headed for a break-up without Carlos Ghosn to hold it together.

Long-standing tensions in the Franco-Japanese partnership have been heightened since Ghosn’s arrest in Tokyo in November 2018 on allegations of financial misconduct, which he denies.

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Meeta develops credible content about various markets based on deep research, opinions from experts and inputs from industry leaders. As the managing editor at Smart Market News, she assures that every piece of news and article adds to the knowledge of decision makers. An avid bike rider, Meeta, is a postgraduate from Indian Institute of Journalism and New Media (IIJNM) Bangalore, where her specialization was Business Journalism. She carries experience from mainstream print media including The Times Group and Sakal Media Group.

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