Feb 6, 2023
Renault and Nissan shake up 24-year-old alliance
Nissan and Renault have unveiled the details of a major shake-up of their often strained 24-year-old alliance. In a joint statement, the two firms said they had "Rebalanced" their relationship by agreeing that Renault would cut its stake in Nissan. The agreement will see Renault cutting its stake in the Japan's Nissan from more than 43% to 15%, the same size as Nissan's stake in its French counterpart. "We all know that auto firms will be amalgamated into five or six globally, especially due to the big changes occurring in AI technology," Seijiro Takeshita from the University of Shizuoka in Japan told the BBC. "In that context, Nissan and Renault need to find a good partner, and that's what they are, at least nominally. They cannot and do not have the luxury of going alone in this battle," he added. The alliance was formed in 1999 when Renault rescued Nissan from the brink of bankruptcy.
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