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Posted on: Tuesday, October 11, 2022 – 3:59 AM | Last update: Tuesday, October 11, 2022 – 3:59 AM
An informed source said that the Japanese car maker Nissan Motor is ready to invest between 500 and 750 million dollars in the electric car sector of the French car manufacturer Renault, with the aim of re-formulating the alliance that linked the two companies for decades.
And the Bloomberg news agency quoted the source as saying that in exchange for Nissan’s support for the electric car maker Renault, which was founded by its CEO Luca de Mi, the French company will agree to a plan to reduce its stake in Nissan from 43% to 15%.
Bloomberg indicated that these steps will alleviate the imbalance in the shares between the two companies, which has been a source of disputes for years. Renault intervened in 1999 and saved Nissan from bankruptcy, sending its CEO Carlos Ghosn, who later became CEO of the two companies and chairman of the board of directors of the alliance. He subsequently included Japanese automaker Mitsubishi Motors Corp., but was arrested in 2018 for corruption in Japan.