A PYMNTS Company

EU: Renault-Nissan merger might not happen

 |  July 2, 2018

We had earlier reported that the the Renault-Nissan merger might not happen till 2020. However, according to a report in Reuters, Renault absorbing Nissan and Mitsubishi is not an option as the carmakers look to strengthen their partnership while retaining their autonomy.

The statement comes directly from alliance chairman Carlos Ghosn. At a recent shareholders meeting with Mitsubishi, Ghosn said, “Anybody who will ask Nissan and Mitsubishi to become wholly owned subsidiaries of Renault has zero chance of getting a result.”

In March this year, Ghosn revealed the company’s plan to share technology, resources, man-power and direct these towards research on new-energy vehicles, autonomous driving and car-sharing services. Ghosn had also announced the alliances plan to double their synergies to €10 billion by 2022.

Full Content: Motor1

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.