It is reported that Nissan and Renault will reorganize the automobile alliance to accelerate the strategic adjustment of the Chinese market.
CTOnews.com, July 19, three people familiar with the matter told Reuters that Nissan and Renault will announce the restructuring of the alliance in the next few days, which will help both sides to deal with new challenges as soon as possible, including changing their attitudes towards the Chinese market and accelerating strategic adjustments in the region.
▲ Touyuan PexelsCTOnews.com previously reported that Nissan and Renault announced a framework agreement in February and planned to complete negotiations as early as March. Under the framework, Nissan will hold a 15 per cent stake in Ampere, Renault's new electric vehicle division, while Renault will reduce its current 43 per cent stake in the Nissan-Renault alliance.
However, the negotiation time was extended because Nissan executives questioned the detailed terms of the deal because of intellectual property protection. Nissan hopes to put its decades-long partnership with Renault on a more equal footing.
Nissan hopes to reduce its investment in Ampere to less than 15 per cent and could end up holding less than 10 per cent, according to people familiar with the matter.
"Nissan and Renault are in constructive negotiations and we will issue a statement in due course after the agreement is reached," Nissan said in a statement. " Renault declined to comment.
Renault had previously said it expected an initial public offering (IPO) of Ampere in the first half of 2024, and sources said it could be valued at as much as 10 billion euros (CTOnews.com Note: currently about 80.7 billion yuan). In addition to Nissan and Renault, Qualcomm has also decided to invest in Ampere, while Mitsubishi is still evaluating whether to invest in Ampere. One of the focuses of discussion among several companies is the patent ownership of Ampere in the future.
By restructuring the alliance, Nissan executives will have the opportunity to turn to other challenges, including updating the company's medium-term strategy and changing attitudes towards the Chinese market, where Nissan's sales are declining, the report said.
