☰
Automotive giants Nissan and Renault have recently denied reports of a possible split that resulted in their shares to reach a multiyear low. The automakers have ensured that their alliance was not under the danger of being dissolved, following the dramatic exit of Carlos Ghosn, the former Chairman, from the Japan trial.
Nissan claims that the alliance happens to be the source of the company’s competitiveness as it denied the reports of its executives looking for possibilities to break the global partnership. The company will keep delivering a win-win result for all the other member firms with the help of the alliance to be able to achieve profitable and sustainable growth.
According to Jean-Dominique Senard, Chairman of Renault, the alliance is going strong and robust, and is everything but dead. Meanwhile, Bruno LeMaire, the French Finance Minister, said that the reports said by some executives that were wishing to break the alliance are malicious.
Apparently, shares of Renault has hit a low of six years as the investors are concerned about its 20 years old cost-sharing-alliance with Nissan, which was going towards a split without Chairman, Carlos Ghosn to hold it together.
Sources like Bloomberg and Financial Times have reported that executives from Nissan have been making emergency plans to break up with Renault which has further accelerated a sell-off in the shares of the French automaker. Nissan shares sagged to the lowest in about 8-1/2 years recently in Tokyo.
Reportedly, Ghosn’s arrest in Tokyo done in 2018 was based on allegations of financial misconduct, which has only heightened the long-standing tensions within the Franco-Japanese partnership.
Apart from this, both the companies have been struggling financially as their shares had demonstrated the worst performers among various major automakers in the previous years. The companies have been potentially drifting apart especially when the cost of electrification and autonomous driving is forcing carmakers to align and consolidate.
Source Credit- https://www.autonews.com/automakers-suppliers/renault-nissan-say-alliance-not-headed-breakup
An accomplished professional in the field of content development, playing with words comes naturally to Nikita Chaurasia. After completing her post-graduate MBA degree in Advertising and PR, Nikita worked across numerous content-driven verticals, undertaking diverse r...
Swiftly Systems has reportedly achieved unicorn status, securing in funding through a Series C round. The prominent BRV Capital Management led this funding initiative. According to the earlier reports, Swiftly was adopted by hundreds of consumer b...
As per the reports, twelve nations with rainforests united to establish a collective initiative aiming to address climate change and safeguard biodiversity at summit held in Brazil. The declaration, titled "United for Our Forests," emerged ...
Meta Platforms has recently introduced Llama 2, an artificial intelligence large language model, for commercial use in collaboration with major cloud providers like Microsoft. Instead of charging for access or usage, Meta aims to share the model with...
Moderna Inc, a leading vaccine manufacturer, reportedly announced on Wednesday that it has entered into a memorandum of understanding (MoU) and a land collaboration agreement aimed at exploring opportunities for researching, developing, and producing...
The American footwear design & manufacturing company, Nike and Epic Games, the creators of the popular online game Fortnite, have joined forces in an exciting new collaboration. The partnership aims to bring about a groundbreaking change in the d...
© 2024 aeresearch.net. All Rights Reserved.