Renault, Nissan further loosen long-standing alliance

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The story "Renault, Nissan further loosen long-standing alliance" was covered 1 days ago by Channel News Asia, a news publisher based in Singapore.

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Renault, Nissan further loosen long-standing alliance - Channel News Asia

Quick Summary:

PARIS : Automakers Renault and Nissan said on Monday they had agreed to further amend their long-standing partnership to allow for a reduction in their cross-shareholdings to 10 per cent, down from 15 per cent previously.

The move comes a day before Ivan Espinosa takes over as CEO of the struggling Japanese carmaker, under pressure to significantly boost its competitiveness.

FILE PHOTO: A Nissan logo is seen next to a vehicle during the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023.