14 Jan 20
News

Nissan denies rumours, will not break up alliance with Renault

Yesterday, the Financial Times and Bloomberg both reported that Nissan executives were investigating a possible break-up with its alliance partner Renault in the wake of Ghosn-gate, sending shares of both OEMs in a downward spiral.

Today, Nissan has issued an official statement that no such plans are in the making: "The alliance is the source of Nissan's competitiveness. Through the alliance, to achieve sustainable and profitable growth, Nissan will look to continue delivering win-win results for all member companies”.

Renault today lacks strong leadership. It is expected that Seat’s Luca de Meo will take on the role of CEO. Last week, VW Group announced de Meo would step down as CEO of its Spanish subsidiary, fuelling speculation about his transfer to Renault. 

Authored by: Dieter Quartier