Renault-Nissan Alliance agrees to strengthen its partnership
The Renault-Nissan Alliance is a strategic partnership between Paris-based Renault and Yokohama, Japan-based Nissan, which together sell one in 10 cars worldwide. The companies, which have been strategic partners since 1999, sold 8.5 million vehicles in nearly 200 countries in 2014. The Alliance has strategic collaborations with automakers including Germany’s Daimler, Japan’s Mitsubishi, China’s Dongfeng, and India’s Ashok Leyland. The Alliance also owns a majority stake in the joint venture which controls Russia’s AVTOVAZ, maker of the Lada brand.
Following a Board of Directors meeting, an agreement between the two main companies was made, which aimed to foster a better relationship between the two. The agreement is based on three points:
- The principle of the French government’s double voting rights within Renault to be maintained as of April 1, 2016, and a contract between the French government and Renault caps the French government’s voting rights at 17.9 percent, up to 20 percent in case of an unusually high quorum at the shareholders general meeting.
- No enfranchisement of Nissan shares in Renault.
- A contract between Renault and Nissan providing for non-interference in Nissan’s governance by Renault.
As it is, Renault has had a lot of controlling interest in the operations of Nissan and it’s subsidiaries, but this change in agreement should give Nissan a bit more flexibility in the way they conduct their business, as well as development of future product lines.
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