PARIS : Renault and Nissan hailed a new deal announced on Monday as a major step in reviving their two decade alliance. But for the French car group the benefits of the revamp are for now unclear and potentially quite limited, three industry sources said. The deal, months in the making and still subjec
PARIS : Renault and Nissan hailed a new deal announced on Monday as a major step in reviving their two decade alliance. But for the French car group the benefits of the revamp are for now unclear and potentially quite limited, three industry sources said.
The deal sees Nissan commit to invest in Renault's flagship Ampere electric vehicle unit, which was the French group's key goal. "Beyond the financial aspect, there is currently not much concrete on the benefits of the deal for Renault," one of the sources said, speaking on condition of anonymity due to the sensitivity of the matter.
"If Nissan puts money and resources into engineering - technologies and teams - that would be a pretty good sign, the alliance will at least partially continue, but for now it's only conditional," a second industry source said.The companies highlighted Latin America, India and Europe - where they already have factories and joint production - as areas where they were considering projects related to markets, vehicles and technologies.
And Renault has announced plans to strengthen ties with China's Geely Automobile Holdings, which will take a big stake in Renault's combustion engine unit, Qualcomm and Google.
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