Nissan intends to reduce its stake in Renault, CEO Ivan Espinosa stated in an interview with Japanese daily Nikkei. This move is part of a broader alliance strategy to offer more independence and allow each manufacturer to focus on their own investments.
In March, Nissan and Renault agreed to lower their cross-shareholding from 15 percent to 10 percent, with each conserving a right of first refusal in the event of a share sale. The policy highlights their desire to concentrate on their own business while still leaving room for the alliance.
100 billion yen to secure Nissan's future
Nissan currently holds 15 percent of Renault's shares, according to LSEG data. Selling 5 percent of its shares would bring in approximately 100 billion yen (or $942 million CAD), which the company plans to use to accelerate the development of new vehicle models amidst a challenging industrial environment.
"We decided to divest our holdings to invest in our own vehicles," Ivan Espinosa stated.
No final decision yet
Nissan clarified that the share sale has not yet been definitively decided, and that all funds will be prioritised for the development of new models. This operation underscores the gradual shift in the alliance's relationship, formed over two decades ago, as each brand gains more independence.
Renault, for its part, has seen CEO Luca de Meo announce his departure to take on other responsibilities outside the automotive industry.