Monday 16/June/2025 – 06:12 PM
Evan Espinoza, CEO of Nissan Motor, stated that the auto manufacturer plans to reduce its share in its French partner Renault, according to the Nikki Economic Newspaper on Monday.
Nissan plans to reduce its share in Renault
Nissan and Renault agreed last March to reduce the minimum required for them in each other from 15% to 10%. Under their agreement, any sales of shares must be coordinated with the other party, and it includes the right of pre -emption.
Nikki added that selling a 5% stake in Renault will collect about 100 billion yen (640 million dollars) at current stock prices, which is money that Nissan intends to use to develop new cars under difficult working conditions. Nissan currently owns 15% of the French company, according to the data of the London Stock Exchange.
This news comes at a time when Renault announced on Sunday that its president, Luka de Miu, will leave the auto company to take a role outside the auto industry.
