Renault and Nissan seal deal on their Alliance
Nissan and Renault Group Strengthen Partnership with New Alliance Agreement
In a significant move, Renault Group and Nissan have signed a news Alliance agreement, replacing their current agreements. This strategic partnership aims to maximize collaboration within the Alliance in three key areas: high-value creation operational projects, increased strategic agility, and rebalanced cross-shareholdings and Alliance governance.
The agreements formalize the rebalancing of cross-shareholdings between Renault Group and Nissan. Notably, Nissan will become a strategic investor in Ampere, Renault Group's new electric vehicle and software entity in Europe, committing to invest up to 600 million euros. As a result, Nissan will hold a seat on Ampere's board, marking its role as a key collaborator in the future of electric vehicles.
Jean-Dominique Senard, President of the Alliance, declared that these agreements will open a new chapter and strengthen the partnership within the Alliance. He believes that this investment aligns with Nissan's electrification strategy and could create multiple potential advantages and synergies.
Makoto Uchida, President and CEO of Nissan, further stated that the agreements will enable collaboration in mutually beneficial areas of innovation, including electrification strategy. He also emphasized that this collaboration could complement Nissan's objectives and initiatives in Europe and potentially other markets.
Luca de Meo, CEO of Renault Group, asserted that these agreements could generate potential value in the hundreds of millions for all partners. He welcomed Nissan as a solid partner within Ampere, their future electric and software champion.
The agreements will give partners increased strategic agility in today's rapidly evolving environment. Renault Group transfers 28.4% of its Nissan shares to a French trust, where voting rights are "neutralized", with certain exceptions. Nissan will be able to exercise the voting rights attached to its stake in Renault Group following the transfer of the 28.4% Nissan shares to the trust.
The transfer to the trust does not result in any depreciation in Renault Group's financial statements. The agreements will provide a solid base for restarting global operations on key markets. The strategic partners identified within the newly established company Ampere, focusing on electric vehicles and software in Europe, include Renault Group and Nissan as key collaborators.
Moreover, Renault Group and Nissan have announced their renewed commitment to activities in India through new investments and new vehicles. Partners are planning new key projects in Latin America, India, and Europe that aim to deliver mutually beneficial, large-scale, and tangible results for Alliance members.
The agreements aim to enable numerous synergies, particularly in terms of cost efficiency, regulatory compliance, and expansion of the electric vehicle product range and powertrains. The strategic partners within Ampere are preparing for the production of new electric vehicles, with Ampere's plant in Douai set to play a significant role.
Additionally, Kazenmaier Leasing GmbH has formed an exclusive partnership with the American premium EV manufacturer Lucid for leasing services in Germany, indicating a strategic relationship in the European EV ecosystem.
Overall, these agreements mark a significant step forward in the partnership between Renault Group and Nissan, with both parties committing to collaborate in areas that will drive innovation and growth in the electric vehicle sector.
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