Renault and Nissan rebuild their alliance to ride out the coronavirus storm GlobeBusiness
“There will be restructuring, there will be fixed costs reductions, there will be a number of projects which will be reduced,” a person with knowledge of the plan told Reuters, speaking on condition of anonymity ahead of the announcement.The three carmakers are reeling from the coronavirus pandemic which engulfed them just as they were trying to rework their partnership after the arrest in 2018 and subsequent ouster of its chairman and chief architect, Carlos Ghosn.
The reworked Alliance is expected to focus on more systematic divisions of labour, with one partner leading for a particular type of vehicle and geography while the others follow. Years of bickering over cost sharing and capital structures have meant the Alliance has so far largely failed to convert its global scale into a competitive advantage beyond the joint procurement of parts.
Renault is seeking 5 billion euros in state guaranteed loans to help weather the hit to sales from the global pandemic. In return, the French government wants Renault to invest in electric vehicles, advanced batteries and other technology to support jobs in France.> in the Alliance. Daimler joined the Franco-Japanese partnership in 2010, promising cost savings for future vans, small engines and pick-up trucks. But common projects have since become few and far between.
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