Renault Weighs Transferring Around Half Of Its Stake In Electric Vehicle Partnership: Report

Author: Vandana Singh | November 17, 2022 12:00pm

As per reports, Renault SA (OTC:RNLSY) (OTC:RNSDF) would transfer a 28% stake it owns in Nissan Motor to a trust to match Nissan Motor Co Ltd's (OTC:NSANF) (OTC:NSANY) stake.
Ongoing talks between Renault and Nissan about their alliance could prompt the biggest reset in the tie-up since the 2018 arrest of Carlos Ghosn.
Renault would transfer a 28% stake it owns in Nissan to a trust and would be left with a 15% stake, equivalent to what Nissan owns, Reuters reported citing the Nikkei newspaper.
Renault, which currently owns 43% of Nissan, would give up voting rights tied to the transferred shares, the newspaper added.
Interestingly, Renault is considering transforming its business next year with a keen focus on electrification. The French automaker plans a separate vertical for electric vehicles based in France by next year with potential employment of 10,000 personnel.
Earlier this month, Nissan Motor and Renault reported discussions on revamping their alliance focused on competitiveness as equal partners and getting value from their investment in electric cars.