Night Mail

Half Mag / Half Zine

Renault chairman says alliance with Nissan ‘robust’: L’Echo

The alliance between the French carmaker Renault (RENA.PA) and its Japanese partner Nissan Motor (7201.T) is “solid, robust, everything but dead,” the chairman of Renault, Jean-Philippe Senard, told Belgian newspaper L’Echo.

Renault shares hit six-year lows on Monday as investors worried the French group’s 20-year cost-sharing alliance with Nissan was headed for a break-up without Carlos Ghosn to hold it together.

Long-standing tensions in the Franco-Japanese partnership have been heightened since Ghosn’s arrest in Tokyo in November 2018 on allegations of financial misconduct, which he denies.

A Financial Times report on Monday that Nissan executives are making contingency plans for a split with Renault appeared to accelerate a sell-off in the French manufacturer’s shares.