The capital structure of the alliance was further adjusted.
Editor’s note: This article comes from “ Future Car Daily ” (WeChat public account ID: auto-time), author: Jiaoman Ting.
Author | Jiao Manting
Edit | Xu Yang
The Renault-Nissan-Mitsubishi Alliance is warming up to break the curse of the “no future” prediction.
In the evening of March 26, according to the French “Echo”, Mitsubishi Group may acquire 10% of Renault’s shares in order to strengthen the alliance between Renault-Nissan-Mitsubishi.
The report said that this is just one of several options that the two parties are discussing. Restructuring plans, plant closure plans and cost savings plans are also on the agenda. However, Renault has not responded to the news.
Nissan is the largest shareholder of Mitsubishi Motors. It successfully acquired a 34% stake in Mitsubishi Motors in 2016 and has a veto right in major management decisions. However, in the alliance, Nissan and Renault have a closer relationship. The two parties have cross-shareholdings, that is, Renault holds 43.4% of Nissan’s shares, and Nissan has 15% of Renault’s non-voting shares.
At the end of 2018, Ghosn, the former head of the Renault-Nissan-Mitsubishi Alliance, was arrested in Japan, and the relationship between Renault and Nissan deteriorated. Both sides cleaned up the senior managers of the Ghosn era. At that time, industry analysts said that Ghosn’s arrest could cause the alliance to collapse. After Ghosn fled to Lebanon, alliance relations were even more questioned.
Sales data show that the global sales of Renault-Nissan-Mitsubishi’s corporate alliances in 2019 fell 5.6% to 10.1552 million units, falling from second to third in the world. Mitsubishi Motors lost 6.6 billion yen in operating income and a net loss of 14.4 billion yen in the third quarter of 2019, its worst answer in three years.
To eliminate Ghosn ’s personal influence, on February 3 this year, the Renault-Nissan-Mitsubishi Alliance announced a new framework agreement. The alliance’s medium-term strategic plan will be announced around May 2020.
