Although its stability has been called into question in recent months, the Renault-Nissan-Mitsubishi Alliance remains stronger than ever. The last time news came from the Franco-Japanese union was last October 2022. Then both partners decided to take some time to solve some problems that had become "bad" in recent years. Above all regarding the distribution of internal power...
In case you don't know the situation, since the Renault Group took over the reins of Nissan Motor votes on the board of directors were not "worth" the same. The Gauls had the right of veto thanks to the 43,4% of the capital in their favor in Nissan and on the contrary, the Japanese could not do much because they only had 15% of the shares of the Gauls. All in all, it seems that now this situation will be rebalanced, as well as their cooperation will continue in other areas.
Nissan and Renault may exercise their respective votes with a maximum weight of 15%...
Thanks to a Press release We already know how the problem between Nissan and Renault is solved. And it seems that understanding has not only reached the section of power, but also other more strategic ones. First they tell us how they have reached this balance…
«Renault Group and Nissan would maintain a cross shareholding of 15%, with a blocking obligation, as well as a suspension obligation. Both could freely exercise the voting rights inherent to their direct participation of 15%, with a cap of 15%.
For that, the French will transfer 28,4% of the shares of Nissan to a French trust, where voting rights would be "neutralized" for most decisions, but economic rights (dividends and proceeds from the sale of shares) would continue to fully benefit the Renault Group until these shares are sold...
Once we are clear about how they will carry out the decision-making, we will tell you which will be the main ones that will take place in the coming months.
- They are gonna do it new “high added value” projects in Latin America, India and Europe that would be deployed in 3 dimensions: markets, vehicles and technologies.
- Nissan will invest in Ampere, the electric EV & Software company founded by Renault Group, with the aim of becoming a strategic shareholder.
In addition, Nissan reserves for itself the possibility of continuing to develop electric vehicles and technology applied independently to its Renault partners. End this official press release with the following statement…
"The agreements are being finalized and the transaction remains subject to the approval of the boards of directors of Groupe Renault and Nissan» […] «Alliance members plan to make an announcement immediately after board approvals»
Therefore, we will have to wait for newsAlthough this new "turn of the screw" seems to be more lasting and full of plans...
Source - Renault Nissan Mitsubishi Alliance