London, Paris, Tokyo, Yokohama – February 6, 2023 – Following approval by the Boards of Directors of Renault Group and Nissan Motor Co., Ltd, Renault-Nissan-Mitsubishi Alliance today announced new initiatives to take their partnership to the next level.
A three-dimension program to maximize value creation for all Alliance stakeholders will include:
- High-value-creation operational projects in Latin America, India and Europe;
- Enhanced strategic agility with new initiatives that partners can join;
- A rebalanced Renault Group-Nissan cross-shareholding and reinforced Alliance governance.
Renault Group and Nissan have entered into a binding framework agreement regarding the above-mentioned transactions, with a view of reaching definitive agreements by the end of the first quarter of 2023. The transactions contemplated in these definitive agreements would be subject to a limited number of conditions precedent, including regulatory approvals, and completion is expected to occur in the fourth quarter of 2023.
This far-reaching program paves the way for a renewal and strengthening of the 24-year partnership, creating a new agile spirit and harnessing the pioneering technologies of all three Alliance members. This next level will create more growth opportunities and help secure operating efficiencies for each Alliance company to innovate and transform in the fast-changing market for automotive products and mobility services.
Details of the binding framework agreement will be announced during a joint conference today at 8.30 am GMT in London: https://www.youtube.com/watch?v=YJaOHCIg23g