Renault in talks with Nissan and Mitsubishi over alliance
The French auto manufacturer Renault has entered talks with the Japanese firms Nissan and Mitsubishi.
The three companies are considering a new alliance body to oversee governance and operations, Bloomberg reported.
A new alliance would replace the existing Amsterdam-based entities Renault-Nissan BV and Nissan-Mitsubishi BV, claims sources.
The Chairperson for Renault, Jean-Dominique Senard, is likely to chair the alliance, the sources added.
“In response to recent press reports, Renault confirms that it is in discussions with its Alliance partners Nissan Motor Co., Ltd. and Mitsubishi Motor Co., Ltd. regarding the establishment of a new Alliance body in order to enhance and ensure further collaboration,” Renault stated, according to Reuters.
“The proposed arrangement will have no impact on the existence of the RAMA (Restated Alliance Master Agreement), and the cross-shareholding structure, which will both remain in place.”
The companies will hold a press conference in Yokohama, Japan, at Nissan’s headquarters on 12 March.
Collectively, the three manufacturers produce more than 10mn cars per annum.
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