in Business Nissan Examines Possibility of Breaking Away From Renault – Yahoo Finance, Yahoo.com 1.7k Views ************** ********************** (View photos) ******************************** ************************ ************************** **************************** (Bloomberg) – Nissan Motor Co. executives have examined the possibility of breaking away from Renault SA amid concerns that relations with the longtime French partner have turned dysfunctional after the ouster of former chief Carlos Ghosn, according to a person familiar with the matter. Since last year, Nissan has been exploring the pros and cons of sustaining the alliance, particularly when it comes to engineering and technology sharing, according to the person, who asked not to be discussed discussing confidential matters. Those studies predate Ghosn’s escape from Japan and were preliminary, so no decision has been made, the person said.It’s unclear how feasible any separation would be given that Renault is Nissan’s biggest shareholder and the French partner has been pushing for a repair of ties. Still, the comments illustrate the fragile state of the relationship between the Japanese and French auto giants after Ghosn, who balanced the world’s largest automotive alliance for years as head of both companies, was arrested late 2018 in Japan on allegations of financial misconduct. Ghosn’s legal odyssey took a dramatic turn recently when he fled Japan for Lebanon and became the world’s most famous fugitive. Since Ghosn’s downfall, the two carmakers have struggled financially – their shares were the two worst performers among the major automakers last year – and drifted apart at a time when the costs of electrification and autonomous driving are pressuring incumbent carmakers to team up or consolidate. Relations between the two companies are “broken and likely beyond the point of repair,” Evercore ISI analyst Arndt Ellinghorst wrote in a note on Monday. Nissan did immediately respond to a request for comment on Monday, a holiday in Japan. Renault declined to comment. The Financial Times reported earlier that Ghosn’s escape from Japan had spurred Nissan executives to accelerate secret contingency plans to potentially split from Renault.****************************** The board of the Renault-Nissan alliance is scheduled to meet on Jan. and the meeting could lead to announcements about joint projects, according to another person familiar with the matter . (Updates with scheduled alliance meeting in final paragraph)– With assistance from Reed Stevenson. To contact the reporters on this story: Kae Inoue in Tokyo at [email protected]; Ania Nussbaum in Paris at [email protected]To contact the editors responsible for this story: Young-Sam Cho at [email protected],; Tara Patel at [email protected], Ville Heiskanen bloomberg.com “data-reac tid=”220 “type=” text “>For more articles like this, please visit us at bloomberg.com ****************************************************************************************** Bloomberg LP********************************************************(******************************************* (**************************************** (****************************************** (Read More) ************************************** **************************** See more Previous article Alaska man survives three weeks with little food and shelter – BBC News, Bbc.com Next article Prince Harry and Prince William say bullying story is false – CNN, CNN What do you think? 0 Points Upvote Downvote Leave a ReplyCancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment. By using this form you agree with the storage and handling of your data by this website. * Post Comment Reply with GIF GIPHY App Key not set. Please check settings
************** ********************** (View photos) ******************************** ************************ ************************** **************************** (Bloomberg) – Nissan Motor Co. executives have examined the possibility of breaking away from Renault SA amid concerns that relations with the longtime French partner have turned dysfunctional after the ouster of former chief Carlos Ghosn, according to a person familiar with the matter. Since last year, Nissan has been exploring the pros and cons of sustaining the alliance, particularly when it comes to engineering and technology sharing, according to the person, who asked not to be discussed discussing confidential matters. Those studies predate Ghosn’s escape from Japan and were preliminary, so no decision has been made, the person said.It’s unclear how feasible any separation would be given that Renault is Nissan’s biggest shareholder and the French partner has been pushing for a repair of ties. Still, the comments illustrate the fragile state of the relationship between the Japanese and French auto giants after Ghosn, who balanced the world’s largest automotive alliance for years as head of both companies, was arrested late 2018 in Japan on allegations of financial misconduct. Ghosn’s legal odyssey took a dramatic turn recently when he fled Japan for Lebanon and became the world’s most famous fugitive. Since Ghosn’s downfall, the two carmakers have struggled financially – their shares were the two worst performers among the major automakers last year – and drifted apart at a time when the costs of electrification and autonomous driving are pressuring incumbent carmakers to team up or consolidate. Relations between the two companies are “broken and likely beyond the point of repair,” Evercore ISI analyst Arndt Ellinghorst wrote in a note on Monday. Nissan did immediately respond to a request for comment on Monday, a holiday in Japan. Renault declined to comment. The Financial Times reported earlier that Ghosn’s escape from Japan had spurred Nissan executives to accelerate secret contingency plans to potentially split from Renault.****************************** The board of the Renault-Nissan alliance is scheduled to meet on Jan. and the meeting could lead to announcements about joint projects, according to another person familiar with the matter . (Updates with scheduled alliance meeting in final paragraph)– With assistance from Reed Stevenson. To contact the reporters on this story: Kae Inoue in Tokyo at [email protected]; Ania Nussbaum in Paris at [email protected]To contact the editors responsible for this story: Young-Sam Cho at [email protected],; Tara Patel at [email protected], Ville Heiskanen bloomberg.com “data-reac tid=”220 “type=” text “>For more articles like this, please visit us at bloomberg.com ****************************************************************************************** Bloomberg LP********************************************************(******************************************* (**************************************** (****************************************** (Read More) ************************************** ****************************
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