Nissan Motor Co. Ltd is a multinational automobile manufacturer located in Japan. The company boasts of a rich legacy with a portfolio of vehicles sold under the Nissan and Infiniti names.
Nissan, Renault, and Mitsubishi have been partners since 1999, when the 3 companies formed a subsidiary of their automaking operations. The alliance has been a force in the global automotive industry, and the 3 companies have shared platforms, technology, and resources.
Over the years, the alliance of Nissan and Renault have invested heavily in electric vehicles (EVs) totaling around $5.16 billion USD within a 4-year period that began in 2011, and recently Renault and Nissan have agreed to overhaul their partnership, putting the two automakers on a more forward-thinking & equal path. As part of the overhaul, Renault will reduce its stake in Nissan from around 43% to 15% as Nissan plans to invest up to $663 million USD in Renault’s new electric vehicle unit, Ampere.
The overhaul is subject to regulatory approvals and is expected to be completed in the fourth quarter of 2023.
The agreement is a sign that the two automakers are committed to working together to compete in the global automotive industry. It will be interesting to see how the alliance fares in the years to come.
Will the agreement between Renault and Nissan be enough to help them compete in the rapidly changing global automotive industry? Stay tuned for more!