France to Support Any Initiative Boosting Renault-Nissan Partnership
France will support any initiative that aims to boost Renault’s partnership with Japan’s Nissan, the head of France’s state shareholding agency has said.
The French state owns a 15% share in Renault, which itself owns 43% of Nissan.
Renault plans to separate its electric vehicle and thermal engine departments in two separate units. Talks are being held between the parties over a reshaping of their strategic partnership.
According to the shareholding agency’s head, industrial projects are crucial for the future success of the alliance.
Executives from both firms have reportedly been discussing the future collaboration of the pair for 20 years since February. The companies recently confirmed that talks are ongoing over their partnership.
According to sources close to the talks, Nissan wants Renault’s stake to be reduced from 43% to 15%. This would bring it in line with Nissan’s share of the French company.
Renault intends to split into two entities, possibly as soon as next year. One entity will be dedicated to EVs, software and hardware based in France, while another one will be based abroad and will focus on hybrid and internal combustion powertrains. Each business would employ approximately 10,000 people.