- Renault-Nissan-Mitsubishi Alliance has proposed new initiatives following the approval of Renault ADR RNLSY and Nissan Motor Co Ltd NSANY Boards.
- The alliance will have a three-dimension program to maximize value creation for stakeholders, including high-value-creation operational projects in Latin America, India and Europe, enhanced strategic agility with new initiatives that partners can join and a rebalanced cross-shareholding and reinforced Alliance governance.
- Renault Group and Nissan have entered into a binding framework agreement regarding the abovementioned transactions, with a view of reaching definitive agreements by the end of the first quarter of 2023.
- The program is expected to pave the way for a renewal and strengthening of the 24-year partnership.
- Also Read: Renault Signs MOU With PUNCH Torino For Low-Emission Diesel Engines
- Renault Group and Mitsubishi Motors would leverage the assets of Renault Captur and Clio to develop 2 new vehicles with the next-gen ASX and Colt based on the CMF-B platform in Europe.
- In Europe, the scope of collaboration would go beyond the vehicles to cover the lifecycle from distribution to usage, to recycling and end-of-life, including electric vehicle (EV) charging infrastructure and circular economy.
- As part of the collaboration, Nissan intends to invest up to 15% in Ampere, Renault Group’s EV & Software entity in Europe, with the aim to become a strategic investor.
- Mitsubishi Motors MMTOF would also consider investing in Ampere.
- As a result of the new arrangements, the governance agreement entered into on February 4, 2016, between Renault Group and the French State related to its shareholding in Renault Group would be terminated.
- Also Read: Renault Raises ¥210B Via Retail Bond
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