Things haven't been easy for the Renault-Nissan-Mitsubishi Alliance lately. Following the arrest and subsequent escape of former CEO Carlos Ghosn, the fate of the Alliance has been shaky, to say the least. But it seems the Japanese want a bigger stake in Renault; but it's not Nissan.
The Japanese company that wants to sink their teeth further into the French automaker is Mitsubishi. To be specific, it's Mitsubishi Corporation, not just Mitsubishi Motors, that wants a bigger slice from Renault. It's a report for now but should it be true, it looks like the Alliance could become more solid if it pushes through. At the moment, Mitsubishi Motors has a 33 percent stake owned by Nissan while Renault owns 43 percent of Nissan.
It is said that Mitsubishi Corporation wants to take part in all this in a bid to find more cost reduction measures. Plans also include restructuring, as well as mending relations between Japan and France. Further talks regarding the matter are said to begin by the end of May. For now, however, Renault has declined to speak about the possible move Mitsubishi Corporation is planning. Nissan has also yet to release a statement.
By the looks of things, it's Mitsubishi who are keener in repairing the ties of the Alliance. It's been strained between Nissan and Renault lately, and the problems have been compounded due to Ghosn's escape to Lebanon, as well as by the global pandemic. Renault's profits have also been affected due to the sliding sales of Nissan in key markets. Following these, the two automakers expressed interest in re-energizing the Alliance and Mitsubishi might just be the key to that.
Mitsubishi Motors, on the other hand, have flourished under the Alliance, posting a good sales rally in 2019. MMC had the biggest gains among the three and they have been tasked to lead in the Asia-Pacific markets.
Source: Automotive News Europe