Renault SA and Nissan Motor Corp. are trying to reassure investors that they’re nearing a final agreement to rebalance their troubled two-decade alliance, as talks drag out longer than expected.
(Bloomberg) — Renault SA and Nissan Motor Corp. are trying to reassure investors that they’re nearing a final agreement to rebalance their troubled two-decade alliance, as talks drag out longer than expected.
The companies are working together closely and expect to finalize the plans in the coming weeks, Renault Chief Executive Officer Luca de Meo said on the sidelines of an event in Paris late Monday.
“Things are advancing and this is not a question of months,” de Meo said, adding that top management from Renault, Nissan and junior partner Mitsubishi Corp had a productive meeting in Japan last week. “We are working, we are activating many projects together.”
Following almost a year of discussions, the partners presented a framework deal in London in February that would see Renault lower its stake in Nissan and the companies move ahead with plans for a range of new models alongside Mitsubishi. At the time, they said they expected to reach definitive agreements by the end of the the first quarter.
De Meo has pursued the agreement as he seeks to split Renault’s businesses and work with new partners amid the industry’s transition to electric vehicles and increasingly sophisticated software.
Nissan Chief Operating Officer Ashwani Gupta echoed de Meo’s reassurances in an interview with Bloomberg Television on Tuesday, saying negotiations have been constructive.
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