Nissan and Renault were supposed to have developed a whole bunch of electric cars together under the name Ampere. This will save Nissan a bill of 4.5 billion kroner.
Nissan is withdrawing from a previous agreement with Renault to invest in electric cars worth up to 4.5 billion kroner.
This is part of a series of new adjustments in the cooperation between the two automakers. Although the Renault–Nissan–Mitsubishi Alliance has gone through a turbulent period, Renault and Nissan have now announced several strategic projects for the future.
Changes to the alliance agreement itself are intended to provide greater flexibility in the mutual shareholdings, that is, between the two car brands.
The minimum ownership threshold is being lowered from 15 to 10 percent, which could allow Nissan to sell part of its Renault stake to raise funds for restructuring.
Nissan announced this in a press release .
It is not yet known whether Nissan will take advantage of this opportunity. Any sale of shares must be done through a coordinated process, with the car brands in particular given the right of first refusal.
As part of the increased flexibility for Nissan, the company is exempted from its obligation to invest in Renault's electric car venture, Ampere.
The investment was announced in July 2023, and it would have meant that Nissan would have to find 600 million euros, equivalent to 4.5 billion Danish kroner.
Among the new product plans, Nissan will have its own version of the upcoming electric Renault Twingo.
It is expected to be launched in 2026 and will feature a unique design created by the Japanese automaker. There is still limited information about the model, but the Twingo itself will be launched next year at a price of under 20,000 euros, or around 150,000 Danish kroner.
The electric car is expected to get a 7-inch digital instrumentation and a 10.1-inch infotainment system.
Outside Europe, Renault plans to acquire Renault Nissan Automotive India Private Ltd by purchasing the 51 percent stake currently held by Nissan.
The deal is expected to close later this year. Renault sees it as an opportunity to expand its international business.
Four new models are expected to be produced at the Chennai plant. Even though Renault will take a majority stake, Nissan will remain present in India and the Chennai plant will continue to build models such as the Nissan Magnite.
The changes to the agreements and the cancellation of the Ampere investment are conditional on certain conditions being met, which are expected to occur before the end of May. In a new press release, neither the French nor the Japanese car brand will elaborate on what those conditions are.
– As a long-standing partner of Nissan within the Alliance and as its major shareholder, Renault Group has a strong interest in seeing Nissan turn its performance around as quickly as possible.
– Pragmatism and a business-oriented mindset were at the core of our discussions to identify the most effective ways to support their recovery plan.
– At the same time, we are developing value-creating business opportunities for Renault Group, says Renault Group CEO, Luca de Meo.
