Nissan Motor Co. is reportedly considering investing in its French partner Renault SA’s planned electric vehicle (EV) unit. The Japanese automaker plans to have a 15 per cent stake in the new EV unit with its investment. According to Reuters, the information was reported by the Japanese news agency, Kyodo. Currently, the two companies are negotiating an overhaul of their decades-old partnership, which has spawned several products globally.
Recently, Nissan Motor Co. and Renault SA announced that the two companies are in talks about the future of their alliance, this month. These negotiations include the possibility of Nissan investing in the latter’s electric vehicle business. Right now, there are no further details available regarding the alliance, but we believe a partnership like this will certainly give a boost to the two companies’ EV initiatives.
Nissan Motor Co. and Renault SA announced that the two companies are in talks about the future of their alliance.
Nissan said it had no comment to make beyond a joint statement issued by the two firms earlier this month, in which they said they were engaged in discussions on several issues, including the EV unit.
Last month, in September 2022, Renault SA’s Chief Executive Officer (CEO), Luca de Meo, said that the company will control 80 per cent of its electric vehicle value chain well ahead of its 2030 target. And to achieve that goal, Renault is developing partnerships with companies for batteries, electric motors and power electronics. The company wants to split its electric vehicle and combustion engine businesses in order to catch up with rivals such as Tesla and Volkswagen in the race to cleaner driving.
With inputs from Reuters
