From boom to bottom: Renault and Nissan bet on deeper cooperation

The Franco-Japanese automaking alliance of Renault SA , Nissan Motor Co and Mitsubishi Motors is banking on a new recovery plan, set to be announced later on Wednesday, to salvage profitability.

Since its founding in 1999, the partnership between Renault and Nissan was dominated by its leader, Carlos Ghosn. His arrest on financial misconduct charges in late 2018 and his subsequent ouster as alliance chairman plunged the automakers into turmoil.

As Renault, Nissan and junior partner Mitsubishi repair their alliance, they are under pressure to recover from two years of falling vehicle sales, a problem exacerbated by the coronavirus pandemic.