Renault’s restructuring has been approved by the French government, which owns 15% of the company. Renault is also finalising an agreement with China’s Geely Automobile Holdings, as well as bringing Saudi Arabian state oil company Aramco on board as an investor and partner in the development of gasoline engines and hybrid technology. Nissan is wary of technology developed while collaborating with Renault leaking to the Chinese automaker or others as Renault restructures.
It remains to be seen whether these conversations between Nissan and Renault will result in a final deal, but it appears that both parties are making progress toward a restructured alliance that satisfies their shared concerns. Overall, the two companies’ cooperation comes at a vital juncture in the auto industry’s transition to electric and driverless vehicles.
