Renault Nissan Agreement

December 15, 2020

Renault plans to enter the Chinese market with Dongfeng and sign a Memorandum of Understanding in April 2012. [128] Renault expects to start production of vehicles in China by 2016. The launch of Renault`s production in China would complement the so-called “golden triangle” between Renault, Nissan and Dongfeng, which was expected when the first agreement was signed in 2000. [129] Mr. Ghosn continued: “I would like to thank all those involved who helped us reach today`s agreement for their hard work, constructive spirit and business vision. We look forward to seeing all parties re-focus on day-to-day business, in order to pursue sustainable growth for Renault and Nissan and increase performance through additional alliances. After the arrest and imprisonment of Carlos Ghosn, President and CEO of the Alliance, in November 2018, accompanied by his exit from the Alliance and its components, press analysts questioned both the stability of the Alliance`s participation agreement and its long-term existence. [10] These analysts also note that, given that recent business strategies of companies are interdependent, attempts to restructure the alliance could be counterproductive for all members. [11] He added: “The agreement on Renault`s presence in Nissan`s new government confirms the spirit of dialogue and mutual respect that exists within the Alliance.” The new agreement contains a number of initiatives to promote cooperation between the three companies, while ensuring that they remain separate entities. It should be noted that each brand will be the leading “reference company” in a given region: Nissan in China, Renault in Europe and Mitsubishi in Southeast Asia. The agreement is a sign that the alliance, including Mitsubishi Motors of Japan, is trying to stabilize its administration. But he pointed to how both companies had been distracted by the vital activity of building and selling cars, seven months after Mr. Ghosn was overthrown by the government.

“Today was an important day for the future of the Renault-Nissan alliance. After months of discussions, I am pleased to say that an agreement has been reached, based on our heritage and our solid foundations, to continue the sustainable growth and success of both partners. While there were significant short-term issues to be resolved, it was essential that all parties involved had a long-term vision. The new agreement also provides for Renault to manufacture a Mitsubishi-branded van based on its traffic supplier sold in the Oceania region. The agreement is a first step towards the development of long-term and cost-effective mobility services. This analysis will initially take place in France and Japan, where Renault and Nissan`s headquarters are located respectively, and could in the future expand to other markets except China. To encourage the exploration process, Renault Group and Nissan Joint Venture will create companies in France and Japan dedicated to driverless mobility services. In July 2012, the Renault-Nissan alliance announced that it was investing 170 billion won ($160 million) in Renault Samsung Motors, the South Korean company acquired by Renault in 2000. This new investment increases the possibility of producing up to 80,000 Nissan Rogue Crossover Sport-Utility vehicles per year at the Renault Samsung Motors plant in Busan, taking advantage of Korea`s free trade agreements with the United States and the European Union, as well as favorable currency exchanges. [131] The Busan plant already produces Renault Samsung SM3, SM5, SM6 and SM7 sedans as well as QM5 crossover sedans.

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