Nissan and Renault will maximize investment in electric cars in Japan. The Nissan-Renault negotiations have less than two weeks left to meet their November 15 target.
“This deal will last for the future,” said Nissan Chief Executive Makoto Uchida, quoted by Reuters on Friday, November 4, 2022.
Uchida, who has spent most of his Nissan career in positions linked to the Franco-Japanese manufacturing alliance, stressed that talks were based on mutual trust. Every company has valuable technology and discussions about technology transfer are expected.
Nissan’s boss stressed that the goal is to increase the ability of automakers to compete. Especially for the electric motor automotive industry which is becoming a current trend.
“The discussion we have is about how to make our competitiveness stronger,” said Uchida.
But Nissan executives have been plagued for years by an unequal ownership structure, with Renault owning 43 percent of Nissan and the Japanese automaker holding only 15 percent of the non-voting stake in Renault.
Uchida declined to say whether Nissan was considering upgrading its previously announced plan to invest 2 trillion yen ($13.6 billion) in electric vehicles by 2026.
Mitsubishi Motors says no decision yet on investing in Renault’s new EV spinoff
