the last obstacles are removed

Blockages are lifted. More than 20 years after they married in 1999, Renault and Nissan will finally review the terms of the alliance that brought them together after months of discussions. According to AFP, the independent directors of the Japanese manufacturer “gave the green light” during a Nissan board meeting on Monday. The alliance’s operational council is scheduled to be held in Tokyo on January 26 to finalize the agreements, and they should be signed “next week,” according to the same source. We do not comment on assumptions “Nissan spokeswoman reacted.

At the end of last week, Reuters confirmed that the council on Monday will approve means to protect the Japanese group’s technology patents in the restructuring carried out by Nissan’s French partner. A crucial moment that paved the way for a long-awaited global agreement to rebalance the alliance. Everything is not fixed, but there is nothing more in the way.

The Renault-Nissan file was on the agenda for talks between French President Emmanuel Macron and Japanese Prime Minister Fumio Kishida in Paris last Monday, with the French state owning 15% of the French manufacturer. According to the same source, a letter from French Economy Minister Bruno Le Maire to his colleagues at Japan’s Ministry of Economy, Trade and Industry (Meti) was crucial in convincing some of Nissan’s independent directors of Paris’ intentions.

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In this rebalancing, the French group plans to reduce its stake in Nissan to 15%, compared to 43.7% currently. So, for the first time since the two groups married, they will be on equal footing, each owning 15% of the other’s equity and the same amount of voting rights.

High tension after the fall of Carlos Ghosn

The rebalancing is seen by both sides as a way to normalize and make more effective relations between the two groups, which have experienced strong tensions in the past, such as the ouster of union leader Carlos Ghosn, who was jailed in Japan in late 2018.

About 28% of the Nissan equity that Renault will agree to sell will initially be placed in a trust created for this purpose. Because their current market value is much lower than what is stated in the accounts of the French manufacturer, who will wait for better days to sell them.

Nissan will invest in Renault’s future powerhouse

Nissan will also later offer up to 15% of the capital of Renault’s future electric division, Ampere. The exact amount and technologies that Nissan will bring to the Ampere have yet to be determined, but it is now “but not holding back” to sign the deal. Discussions on this issue have long stalled over the sharing of intellectual property (IP) and patents.

Mitsubishi, the third partner of the Franco-Japanese alliance, emphasized that it will no longer take a position on this issue. Ampere As long as the discussions with Nissan are not closed.

In the global automotive industry, which is engaged in a forced march towards electrification, connected technologies are a truly strategic issue for companies, as well as France and Japan. The French state, the main shareholder of Renault, supports the ongoing discussions, but on the condition that “oneStrengthening and developing the future strategy of the group (Renault) and the alliance “Emmanuel Macron emphasized in an interview with Les Echos magazine on the eve of the Paris Motor Show. Economy Minister Bruno Le Maire, for his part, was adamant that he was waiting for guarantees to maintain common projects in industrial and technological matters.

Finally, as for the Horse, the future pillar of Renault’s overseas heat engine activity with China’s Geely, Nissan has been preparing restrictions on the use of some of its technologies for several months now, according to an AFP source. .

(with agencies)