Concerns first emerged about the future of the Renault-Nissan partnership after the November 2018 arrest in Japan of Carlos Ghosn.
The logos of car manufacturers Renault and Nissan are seen in front of dealerships of the companies in Reims, France, July 9, 2019.
(Image: REUTERS/Christian Hartmann/File Photo)
Shares in Renault recovered some lost ground after the French carmaker and its Japanese partner Nissan Motor rejected media reports that their alliance was in danger of being dissolved. Growing concerns about the state of the 20-year old French-Japanese alliance, forged by former boss turned fugitive Carlos Ghosn, had sent Renault and Nissan’s shares skidding to multi-year lows. At the opening of trading in Paris on Tuesday, Renault shares rose 1.3 percent, before falling back slightly to trade up 0.49 percent by 08:23 GMT.
The alliance, which also includes Japan’s Mitsubishi Motors Corp, is “solid, robust, everything but dead,” the chairman of Renault, Jean-Philippe Senard, told Belgian newspaper L’Echo. French Finance Minister Bruno Le Maire also weighed in, saying reports some executives wanted to break up the alliance were “malicious.” Speaking to France’s CNews TV, he also said he expected Renault to name a new chief executive within days to replace Thierry Bollore, a Ghosn-era appointee who was ousted in October.