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Big Law

Nissan and Renault Rule Out Planned Merger

The companies have been hit hard by the coronavirus pandemic just as they were trying to rework their partnership following the arrest of its chief architect, Carlos Ghosn, who had been pushing for a merger despite stiff resistance from Nissan.

The new plan, which entails cutting the alliance’s vehicle ranges by a fifth, pooling manufacturing by region and capitalising on joint designs, is meant to serve as a peace treaty, sources have told Reuters.

“We don’t need a merger to be efficient,” Renault Chairman Jean-Dominique Senard told a joint news conference.

Read the source article at reuters.com

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