Published: Tue, January 14, 2020
Markets | By Otis Pena

Renault chairman says alliance with Nissan 'robust': L'Echo

Renault chairman says alliance with Nissan 'robust': L'Echo

According to a Reuters report, Renault shares have fallen to a six-year low, and rumors that Nissan could be preparing for a split with the French automotive manufacturer have recently come to light. The Financial Times has cited several sources who report that senior executives are formulating a contingency plan to negotiate a total divide between the two brands in engineering and manufacturing departments.

But in a statement, Nissan firmly denied the claims.

Nissan said, in response to "speculative global media reports", that it is "in no way considering dissolving the alliance".

"The alliance is the source of Nissan's competitiveness", the firm said, adding that it will look to continue delivering "win-win results for all member companies".

Tensions in the Franco-Japanese partnership have been heightened since the alliance's former head, Carlos Ghosn, was arrested in Tokyo in November 2018 on allegations of financial misconduct.

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Ghosn fled Japan for Lebanon in late January while awaiting a trial he said would not be fair under Japan's legal system.

The Financial Times added that in the event of the alliance's relations being terminated, the auto manufacturers will have to look for new partners to survive the competitive market.

Nissan's stock on Tuesday fell 3% from last week to 617.8 yen, before closing at 618 yen.

The alliance rebranded itself as the Renault-Nissan-Mitsubishi Alliance in September 2017, following Nissan's acquisition of a controlling stake in Mitsubishi in 2016.

But Senard said the alliance was "nowhere near" the point of collapse and insisted its leaders were busy "recreating its original spirit" and planning future investments.

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