A divorce without a name? Remarriage, property division? In recent months, when journalists and commentators have talked about the future of the Renault-Nissan alliance, its damage from the Ghosn affair and the incredible escape of his former boss in 2019, marriage metaphors cannot be avoided.
“Actually, we would rather go from a PACS without a contract to a PACS with solid terms, able to structure discussions and relationships between the two groups”, AlphaValue analyst Valentin Mory said in response to the two partners’ announcement on Monday, February 6.
In this influential dossier, especially on the Japanese side, Renault and Nissan deliberately held a press conference at a neutral location in a large London hotel.Thanks to a perfect half-hour, their respective bosses detail the new deal “Initially for a period of fifteen years”, As Jean-Dominique Senard, president of the diamond brand, said.
15% cross shareholding
A deal that marks a rebalancing of the alliance, the cross-shareholding is 15 percent, while Renault previously held 43.4 percent of Nissan’s capital. However, the French group will not immediately sell the remaining 28.4% stake, but will temporarily place it in trust until the share price rises.
On Monday, February 6, it traded at 472 yen (3.31 euros), up 2 percent, while registering on Renault’s account over 1,000 yen (7.02 euros). “It’s not going to be a matter of weeks or even months,” advises general manager Luca de Meo, while noting that the two manufacturers have “agree buyers and acceptable partners”.
After months of negotiations, particularly setbacks over intellectual property, the London meeting was above all an opportunity to restart and announce or confirm a series of projects related to two partners, and a third The actor, Mitsubishi of Japan, joined them in 2015.
Joint projects in Latin America and India
To achieve this, Nissan – and perhaps Mitsubishi in a second phase – will therefore take a capital stake of up to 15 percent in Ampere, Renault’s new electric-focused entity that will list on the stock market this year. The collaboration should in particular enable the Japanese group to prepare for regulatory changes in the European market, which will ban the sale of thermal vehicles there from 2035.
Renault will also allow its partners to benefit from its leadership in the field of “software-defined vehicles”, which make it possible to centrally control all parameters and functions of a car. Teaming up with Mitsubishi, for example, the French manufacturer will be able to rely on Nissan’s expertise in solid-state batteries and autonomous driving.
The partners also intend to collaborate to strengthen their positions in several regional markets. The project will be launched in Argentina, and a new Renault car will be produced in Mexico.India will host “Mixed range of production, local sales and export based on a shared platform”, Luca DeMeo said. “The only possibility for Renault and Nissan to remain profitable in one of the most important markets”, third in the world.
Nissan’s futuristic city car produced in Haute-France
This time, in Europe, Nissan’s future small city car will be produced from 2026 at Renault’s electric division, which brings together plants in Douai, Maubeuge and Ruitz in the Haute-France department. “This car will have 80% of the same parts as the Renault 5”, A revisited and carbon-free version of the flagship model from the 1970s-80s.
Nissan and Mitsubishi, on the other hand, will not be involved in Horse, another Renault entity tasked with developing hybrid and thermal vehicles with China’s Geely for markets outside Europe in the future.
Renault alone cannot compete with world leaders
As stated by Jean-Dominique Senard, the new alliance is based on the following principles: “flexibility”, This allows everyone to start their project and others, if necessary, to join “Not because they’re forced to, but because it’s in their interest”.
“It is clear that the partnership with Nissan has watered down and is no longer just one of the pillars of Renault’s strategy”, Watch Valentine Murray. “Nevertheless, it remains essential as Renault itself does not have the scale to compete with the world leaders”, Toyota and Volkswagen Group.
Groupe Renault figures
Founded in over 130 countriesRenault has 111,000 employees.
The group is currently in the process of reorganizing its activities into five entities : Ampère, focused on electric vehicles, whose capital will be partly owned by Nissan; Electricity, which will bring together historical thermal and hybrid businesses, including Horse, a joint venture with China’s Geely; Alpine for motorsports; Mobilization, responsible for services, especially finance and new mobility; finally, the future of circular economy activity is neutral.
Global sales of Groupe Renault, 2022, excluding Russia (Renault, Dacia, Alpine, Mobilize) was 2 million, down 6%.
Renault-Nissan alliance, which also includes Mitsubishi, Total sales were 6.15 million, far behind Toyota (10.5 million).