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Renault CEO: new deal with Nissan enables french group to regain agility

Reuters
·1-min read
FILE PHOTO: Paris Auto Show 2022

LONDON (Reuters) - A new deal to revive Renault's long-standing partnership with Nissan allows the French carmaker to regain some agility without losing the benefits of the alliance, Renault's CEO Luca de Meo said on Monday.

The two car makers earlier gave details on the redesigned alliance, which will see Renault reduce its stake in Nissan Japanese partner to 15% from around 43% now.

On Monday, Nissan committed to buying a stake of up to 15% in Renault's electric vehicles unit Ampere, which is due to be listed on the market.

"I consider that what we have agreed is a much better set-up than what we have had in the last past few years," de Meo said in a presentation in London.

(Reporting by Gilles Guillaume and Nick Carey, writing by Silvia Aloisi)