PARIS/TOKYO : French carmaker Renault and its Japanese partner Nissan are closing in on an overhaul of their automaking partnership, in what could mark a sweeping reset of their two-decade alliance. The partnership, which has grown to include junior member Mitsubishi Motors, was founded in 1999 and long
PARIS/TOKYO : French carmaker Renault and its Japanese partner Nissan are closing in on an overhaul of their automaking partnership, in what could mark a sweeping reset of their two-decade alliance.
The alliance was thrown into turmoil following Ghosn's arrest on financial misconduct charges in late 2018 and his subsequent ouster as alliance chairman. The following is a timeline of key events in the alliance's history. 1996Ghosn joins Renault as executive vice president as the firm struggles with falling profitability. The next year, he unveils a 20 billion franc cost-cutting plan, reviving his reputation as"Le cost killer".
Renault and Nissan announce a common plan for low-cost development and manufacturing of vehicles. The next year, the two groups converge more functions, targeting 10 billion euros in annual savings by about 2022. On Dec. 29, Ghosn escapes from Japan onboard a chartered flight. He eventually arrives in Lebanon, his childhood home, where he is barred from leaving the country but remains protected from extradition. 2020With the COVID-19 crisis triggering losses at both car makers, Renault secures a state-backed loan worth 5 billion euros to shore up its liquidity. Luca De Meo becomes the French group's new CEO in July.
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Nissan and Renault close in on overhaul of allianceTOKYO/PARIS : Nissan and Renault are closing in on a sweeping overhaul of their globe-spanning automaking alliance as top executives meet on Thursday for talks to reset the two-decade-old partnership and chart a course for an uncertain electric future.Leaders of Nissan Motor Co Ltd and Renault SA are meet
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