Nissan technology fears said to delay Renault deal – Automotive News Europe

Renault’s electric Megane. Renault wants Nissan to invest in its new EV business.
TOKYO/PARIS — Nissan doesn’t expect to reach an agreement with top shareholder Renault by year-end on reshaping their alliance because some of Nissan’s board members are pushing to move cautiously, people familiar with the matter said.
Renault wants Nissan to invest in a new electric-vehicle unit it plans to spin off as part of a major overhaul. Nissan wants Renault to sell some of its roughly 43 percent in the Japanese company to put the two carmakers on more equal footing, Reuters has previously reported.
The two-month-old talks, which continue, now look likely to run into the new year, four people said, speaking on condition of anonymity.
The delay comes as some Nissan board members have emphasized a need to move carefully and are particularly concerned about the transfer of intellectual property, two of the people said.
There was some opposition from the board at the start of this month to the idea of closing the deal by year-end, one of the people added.
Tech-sharing
Some members said that rushing to close the deal before addressing concerns — including on technology sharing – would fail to build on efforts to improve governance that followed the ouster of former alliance chairman Carlos Ghosn, the person said.
Japan’s powerful trade ministry also doesn’t want to see a deal pushed through prematurely, another of the sources said.
Nissan and Renault declined to comment. No one was immediately available for comment at Japan’s Ministry of Economy, Trade and Industry.
For Renault, any delay in Nissan talks risks slowing CEO Luca de Meo’s timetable for the reboot he has promised investors. His sweeping plan includes a separate, pending deal with China’s Geely Automobile Holdings to carve out Renault’s combustion engine business.
The sharing of technology had emerged as a sticking point in the Renault-Nissan talks, Reuters reported in October.
The relationship between Nissan and Renault has long had political overtones. The French government is Renault’s biggest shareholder. The French trade ministry declined to comment.
French dominance
With Nissan holding only 15 percent of Renault — and without voting rights — French dominance of the alliance has long been a sore point in Japan. Many Nissan executives see the relationship as unbalanced, especially regarding product development.
Reuters reported this month that the automakers would delay announcing the deal on Dec. 7 as they struggled to bridge their differences. That raised the prospect of an announcement by the end of this month, which now also appears unlikely.
Renault has seemed more keen to seal the deal, sources have said. The scale of Renault’s planned overhaul has also raised questions about how the alliance will function in practice.
Renault plans to separate itself into five businesses, deepen ties with Geely as well as work with partners as diverse as Airbus on batteries and Google on product design and development.
Nissan CEO Makoto Uchida told Reuters in an interview this month that he was “very confident” the two automakers could strengthen their partnership, saying that how they could “elevate competitiveness” was the key area of discussion
Please enter a valid email address.
Please enter your email address.
Please verify captcha.
Please select at least one newsletter to subscribe.
You can unsubscribe at any time through links in these emails. For more information, see our Privacy Policy.
Sign up and get the best of Automotive News Europe delivered straight to your email inbox, free of charge. Choose your news – we will deliver.
You can unsubscribe at any time through links in these emails. For more information, see our Privacy Policy.
Get 24/7 access to in-depth, authoritative coverage of the auto industry from a global team of reporters and editors covering the news that’s vital to your business.

Founded in 1996, Automotive News Europe is the preferred information source for decision-makers and opinion leaders operating in Europe.
1155 Gratiot Avenue
Detroit MI  48207-2997
Tel: +1 877-812-1584
Email Us
ISSN 2643-6590 (print)
ISSN 2643-6604 (online)
 

source

Post expires at 10:15am on Wednesday March 15th, 2023

Leave a Reply

Next Post

Google execs warn company's reputation could suffer if it moves too fast on AI-chat technology - CNBC

Thu Dec 15 , 2022
Google execs warn company’s reputation could suffer if it moves too fast on AI-chat technology  CNBCsource Post expires at 10:15am on Wednesday March 15th, 2023

You May Like

%d bloggers like this: