Renault to relinquish some of its voting rights in Renault-Nissan-Mitsubishi Alliance
By Bradley Osborne - 17th February 2023
France / Japan – Renault SA of Boulogne-Billancourt, France has released a statement outlining changes to its agreements made with Nissan Motor Co Ltd of Yokohama, Japan as part of the longstanding Renault-Nissan-Mitsubishi Alliance. The new terms would alter Renault’s voting rights through its Nissan shares and pave the way for further collaborations in Europe, Latin America, and India. The proposed framework agreement is set to complete by the end of the year.
The Alliance was formed in 1999 and involved an exchange of shares primarily between Renault and Nissan. While the companies involved are mainly involved in the manufacture of passenger cars and SUVs, Renault and Nissan also produce light commercial vehicles, and Mitsubishi retains a stake in Fuso (now owned by Daimler Truck). The three companies have collaborated together extensively in expensive and high-risk ventures, such as electric vehicle development and expansion into markets such as Brazil, Russia, India and China.
