Friday, May 27, 2022
News Renault Looking at Selling Nissan Stake: Report

Renault Looking at Selling Nissan Stake: Report

Sale could smooth out alliance, raise funds for Renault

  • Renault owns nearly half of Nissan, part of alliance with two and Mitsubishi

  • French automaker looking to raise funds to pay for EVs

Renault has owned a big stake in Nissan for more than 20 years. It’s a big part of the alliance between the two companies. Now, a report says that the French automaker is looking at selling part of that stake to help raise the billions of euros needed to pay for the transition to electric vehicles.

The French company owns around 43 percent of Nissan, some 1.83 billion shares. Bloomberg reports on Renault’s sale considerations, citing sources who did not want to be identified.

Possible customers for a portion of Renault’s share include Nissan itself. The report points out that Nissan owns just 15 percent of Renault as part of the agreement, a lopsided deal that has caused internal friction.

Chinese giant Geely, who also owns Volvo and Polestar, is another possibility, say the report’s sources. Renault has worked with Geely before, agreeing earlier this year to work together on a new facility in South Korea.

Renault management was working toward turning the company around but has been bitten by its second-largest market, Russia. Following Russia’s invasion of Ukraine, Renault has begun to exit that market, which will be an expensive proposition both for future sales and for a manufacturing plant in the country.

The report also suggests that Renault could separate its EV company and its internal combustion operations. It could then partner with another automaker for those legacy vehicles.



Trending Now

The New BMW Alpina B3 is Exceptional as Always

The updates to the B3 follow the reveal of the facelifted 2023 3 Series. Horsepower is up to 495. That B3 Touring… BMW may...

Hyundai is Planning to Build up to 6 New EVs in its Georgia Factory

Hyundai recently announced it will build a new factory near Savannah, Georgia Up to six different EVs could be built there by 2028 ...

The 2023 Honda CR-V Hybrid is teased in a few more pictures

Honda says the CR-V hybrid features a new, sportier powertrain The images show a part of the front and the rear of the...

All-Electric Volkswagen Station Wagon Might be Called ID.7 Tourer

It would be the production version of the ID. Space Vizzion and Aero B. Initially, it was thought to be called the ID.6. Station...

Goodyear is Working on Airless Tires that Could Arrive First on Autonomous Vehicles

These tires will be immune to punctures, since they feature an open design Goodyear says these tires will be able to support more...


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.