Nov 29, 2019
Renault, Nissan and Mitsubishi drive new project tie-up
Renault, Nissan and Mitsubishi have agreed to launch new alliance projects and will appoint a general secretary to steer functions between the two companies in an attempt to pump fresh momentum into their faltering partnership, which was shaken by the arrest of Carlos Ghosn last year. France's Renault and Japan's Nissan are looking to steady both sides of the 20-year alliance as well as the partnership. Renault holds a 43 per cent voting stake in Nissan while the Japanese partner holds a 15 per cent stake in the French group with no voting rights - a capital imbalance that stems from Renault's rescue of Nissan from bankruptcy in 1999 but which rankles in Tokyo. Nissan in turn owns 34 per cent of the third member of the alliance, Mitsubishi. Nissan has put a new generation in charge as it tries to move past the Ghosn-era.
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