Renault-Nissan Partnership

Nissan and Renault have changed their mutual cross-shareholdings equal at 15 per cent, ironing out a source of conflict in the Japan-French auto alliance. Up to now, Renault Group has held a 43.4 per cent stake in Nissan Motor Co. It will transfer shares equivalent to a 28.4 per cent stake to a French trust, so it will hold a 15 per cent stake in Nissan, just as Nissan holds 15 per cent of the French automaker, according to the companies. The disparity between the holdings was a cause of friction, especially after Nissan became far more profitable than Renault. The cross-national alliance, creator of the Leaf electric car and Infiniti luxury models, remains one of the world's top auto groups. But it has had its ups and downs since it began in 1999, when Renault sent one of its executives, Carlos Ghosn, to then-struggling Nissan to lead a turnaround. Ghosn first served as Nissan's chief executive and later its chairman before he was arrested in late 2018 on various financial miscond

Executives have discussed Renault's carve-out plan and reshaping the pair's two decade-old alliance since February during meetings in France and Japan.

Jean-Dominique Senard said that reports Nissan is mulling plans for a possible break-away had "no connection to the current situation of the alliance"

The 65-year-old faced charges of financial misconduct and raiding corporate resources for personal gain, allegations he denies.

The carmakers are in talks with government officials over proposals by Renault-Nissan boss Carlos Ghosn for Nissan to buy the bulk of France's equity stake in Renault