Renault's giant Renault wants to create a joint venture with its Japanese partner Nissan. In the proposal, the two companies will appoint an equal number of directors to the new company, which may be headed by Renault's president Jean-Dominique Senard, according to Reuters quoting a person who wanted to remain anonymous because the plan of the two automakers is public.
This could reduce Renault's shares held by the French government to about 7-8%, from 15%. Both Nikkei and other Japanese media sources said the new company would be based in a third country, such as Singapore.
The proposal to create a joint venture comes after the French manufacturer approached Nissan earlier this month, proposing a merger before the Alliance's operating meeting, but Nissan CEO Hiroto Saikawa declined to discuss the issue. with Senard.
The Renault-Nissan alliance, one of the most important car partnerships in the world, has been slowing since the arrest of Carlos Ghosn, former Renault-Nissan, in November, is accused of tax evasion.