Nissan confirms it “has absolutely no intention of dissolving” alliance with Renault

UNITED STATES (OBSERVATORY NEWS)

The automaker, Nissan, confirmed Tuesday in a statement that it “has absolutely no intention of dissolving” the alliance with Renault and Mitsubishi Motors, in response to an article in the Financial Times that talks about domestic projects in this direction.

The company added, “The alliance is the source of Nissan’s competitiveness. To create long-term and profitable growth, Nissan will strive to continue to obtain profitable results” for the three companies.

Earlier, a source close to the Japanese company, in response to a question asked by France Press, denied the “Financial Times” information, saying that it was probably from “some sad souls” inside the group, “ready to express its frustration.”

The source said from within the company that restoring confidence between the two groups “will take time” even if their leaders were “convinced that the two companies without the alliance, will not reach anywhere.”

A few hours ago, the head of the alliance and the president of Renault, Jean-Dominique Sennar, confirmed in an interview with the Belgian newspaper “Lecco” that “the Renault-Nissan alliance is not dead! We will prove this soon.”

“The alliance is not (at this stage) at all. We are in the process of recreating its original spirit. The Alliance Council that I chair is of exceptional quality. I have never seen so much friendly understanding between the different leaders of our three groups (Renault, Nissan and Mitsubishi Motors) to move forward. Alliance in the right direction. ”

He stressed that “none of the leaders of our three groups doubted the fundamental benefit of the alliance. We have no choice. We must succeed. All we are discussing today is about that.”

And last week during a press conference in Beirut after his escape from Japan, Carlos Ghosn, the former head of the alliance, considered that there was no longer a Renault-Nissan alliance, indicating that the consensus strategy no longer worked.

Sinar told the Belgian newspaper that the “big investments” that the car manufacturer must agree upon in the midst of the technological transformation are in the interest of the company.

“It is not complicated, we cannot do it alone, none of our companies can allow itself to do so. The capacity of this alliance is therefore great, even if its size is not seen in the outside world.”

Nissan and Renault are trying to turn the page of Carlos Ghosn’s reign, including arresting him and then condemning him in Japan in late 2018, which weakened their close ties.

While Renault has yet to appoint a new general manager to succeed Thierry Bolloré, in early December, Nissan chose a new general manager, Makato Uchida, as well as a new executive director, Ashwani Gupta, who are publicly supportive of the alliance.

But in late December, the sudden resignation of Nissan’s third official, John Seiki, revived fears of ongoing internal divisions in the Japanese group, which was known to be more cautious about the alliance.

Speculation about the alliance’s fate hurt the shares of the two companies: the share price of Renault on Monday on the Paris Stock Exchange fell by 2.82%, while the share price of Nissan fell by 2.96% on the Tokyo Stock Exchange, which was closed Monday.

Nissan’s board of directors will hold a meeting this Tuesday at its headquarters in Yokohama.

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