LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » World News

Saving Renault, Nissan ties priority: French Minister

Ties between Nissan and Renault have been under strain since Renault tried to explore a merger with Nissan. Officials at Nissan, a larger company than Renault, are strongly resistant to merger talk. They fear having to answer to the French government and see their company as more technically advanced.   

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Saving Renault, Nissan ties priority: French Minister
Ties between Nissan and Renault have been under strain since Renault tried to explore a merger with Nissan, Photo: Reuters
Written By: IANS
Updated: Mon, Jun 10, 2019
11:25 am
Fukuoka, IANS
RELATED NEWS
Car discounts September 2020: Get up to Rs 70,000 off on Renault Duster Turbo, Kwid, other cars Car discounts September 2020: Get up to Rs 70,000 off on Renault Duster Turbo, Kwid, other cars
Renault names Volkswagen's De Meo as its new CEO Renault names Volkswagen's De Meo as its new CEO
Renault cars owner? What you should know about improving your vehicle's performance Renault cars owner? What you should know about improving your vehicle's performance
Year-end discount on cars 2019 that Maruti Suzuki, Hyundai, Tata, Mahindra, others are offering Year-end discount on cars 2019 that Maruti Suzuki, Hyundai, Tata, Mahindra, others are offering
Over 10,000 Renault Triber units sold in 2 months; customers bought 11,516 cars in Oct, 63% growth registered Over 10,000 Renault Triber units sold in 2 months; customers bought 11,516 cars in Oct, 63% growth registered

The auto industry needs further consolidation, but Renault SA and Nissan Motor Co should strengthen their alliance before being involved in any new merger moves, the French Finance Minister Bruno Le Maire said here on Sunday, according to a report from Dow Jones Newswires supplied to Efe news.

In a tumultuous chapter in the auto industry, a proposal by Fiat Chrysler Automobiles NV to merge with Renault collapsed last week because of concerns in the French government over the impact on Renault's partnership with Nissan. 

Le Maire said that protecting the two-decade old partnership between Renault and Nissan was the priority for the French government, Renault's largest shareholder. 

"We all know that because of the technological transformations taking place, in particular with electric and connected vehicles, there will be a need for industrial consolidation," Le Maire said at a press conference following a Group of 20 meeting of
global financial leaders in Japan on Sunday. 

"But this can only be the second step, after the reinforcement of the alliance." 

Ties between Nissan and Renault have been under strain since Renault tried to explore a merger with Nissan. Officials at Nissan, a larger company than Renault, are strongly resistant to merger talk. They fear having to answer to the French government and see their company as more technically advanced. 

The companies currently share technology and vehicle parts as part of a three-way tie-up with Mitsubishi Motors Corp. Le Maire acknowledged the benefits to Renault from its ties to Nissan, the Dow Jones report added. 

"It's allowed us to be one step ahead on the most important technologies for the automobile industry in the 21st century. I'm thinking in particular about electric vehicles in which Renault today is one step ahead thanks to the alliance with Nissan," he said. 

Concerns about a merger at Nissan contributed to the downfall of former Chairman Carlos Ghosn. Jean-Dominique Senard, who replaced Ghosn as Chairman of Renault, fuelled mistrust at Nissan by keeping the Japanese auto maker in the dark about the Fiat Chrysler merger talks before they were publicly disclosed, according to people familiar with the matter. 

Renault owns 43.4 per cent of Nissan, while Nissan owns 15 per cent of Renault. Le Maire has raised the prospect of the French government lowering its 15 per cent stake in Renault as part of a shareholding reorganization, but he said that would only be a possibility in the longer term. 

Le Maire heads to Tokyo on Monday, where he will meet Japanese Finance Minister Taro Aso. He said he has no plans to meet with Nissan Chief Executive Hiroto Saikawa and it was up to the heads of each company to discuss how to bolster their alliance. 

"All options can be envisaged, and it's up to Renault and Nissan to make proposals," he said. 
 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
RenaultNissan
RELATED NEWS
Car discounts September 2020: Get up to Rs 70,000 off on Renault Duster Turbo, Kwid, other cars Car discounts September 2020: Get up to Rs 70,000 off on Renault Duster Turbo, Kwid, other cars
Renault names Volkswagen's De Meo as its new CEO Renault names Volkswagen's De Meo as its new CEO
Renault cars owner? What you should know about improving your vehicle's performance Renault cars owner? What you should know about improving your vehicle's performance
Year-end discount on cars 2019 that Maruti Suzuki, Hyundai, Tata, Mahindra, others are offering Year-end discount on cars 2019 that Maruti Suzuki, Hyundai, Tata, Mahindra, others are offering
Over 10,000 Renault Triber units sold in 2 months; customers bought 11,516 cars in Oct, 63% growth registered Over 10,000 Renault Triber units sold in 2 months; customers bought 11,516 cars in Oct, 63% growth registered

LATEST NEWS

On Anil Singhvi’s show, Know which stock Rakesh Bansal and Kunal Saraogi recommended

MTAR Technologies IPO: Last Day to subscribe for the issue, retail portion subscribed over 16 times on 2nd day

Platform ticket price today: Railways hikes fares from Rs 10 to Rs 30 across network

MTAR Technologies IPO Subscription: Check allotment status finalisation date and how to check if you got shares

Exclusive: Power Grid InvIT IPO to be launched soon; to be game-changer for company, Anil Singhvi says

EPF interest rate 2020-21: ANNOUNCED! Check latest PF news update on EPFO provident fund deposits

Policybazaar.com IPO: Capital boost! Check latest news here

HDFC home loan interest rate today: New rate comes into effect today; SBI, Kotak also offering chance to buy homes at affordable rates

Rakesh Jhunjhunwala picked Tata Motors for his portfolio during Covid Pandemic II Reasons Highlighted

SBI preferred - Morgan Stanley upgrades Bank of Baroda, Punjab National Bank, Bank of India, Canara Bank

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved