Renault continues to take giant steps for the transition to electric vehicles. According to sources familiar with the matter, the French manufacturer is considering selling its shares in Nissan. Renault, which plans billions of dollars in investments in the EV world, can ease the tension in the Renault-Nissan-Mitsubishi alliance with this sale.
Renault will sell Nissan and invest in electric car
The world of electric cars started to change the balance between companies. Renault plans to divest its stake in Nissan, according to sources familiar with the matter. 1.83 billion shares owned by Renault can be transferred to Nissan.
The French company currently owns 43 percent of Nissan. Possible customers Renault may sell to include Nissan’s board of directors. However, it was stated that Renault wanted to distribute its stake in Nissan. So Nissan shares can have more than one partner.
It was stated that the biggest buyer other than Nissan could be Zhejiang Geely Holding Group, which also owns Volvo. The French company has started co-production with Geely for a factory in Korea, and has previously said they could partner in China.
This sale from the Nissan side could contribute to financing Renault’s structural change. Sources say Renault CEO Luca de Meo started planning in February, and they think it will treat its electric car operations as a separate company.
The Renault-Nissan-Mitsubishi alliance prepared a plan in January to strengthen operational ties and invest in electrification. This plan actually further complicated the separation of Renault and Nissan’s electric car operations.
However, it was stated that the sale of Nissan shares could resolve the problems between the partners. While the Franco-Japanese alliance negotiations, including Mitsubishi Motors, have been going on since 2019, no result has yet been achieved.
So what do you think about the idea of selling Nissan shares by Renault? Do not forget to share your views with us in the comments section or on the SDN Forum.
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