French automaker Renault and its Japanese partner Nissan are reportedly nearing a major overhaul of their partnership, which has been in place for over two decades.
The partnership, which also includes junior member Mitsubishi Motors, was founded in 1999 and was dominated by former Renault and Nissan executive Carlos Ghosn. It gave Nissan a 15% stake in Renault, on par with the French state, but no voting rights.
Renault, on the other hand, took a 43% stake in Nissan, giving the French company a dominant role that has been a point of contention for years. The alliance was thrown into turmoil following Ghosn’s arrest on financial misconduct charges in 2018 and his subsequent ouster as alliance chairman.
Now, the two companies are in talks to address concerns about technology-sharing and a potential deal could be announced as soon as February 1st.
