The CEO of Nissan, Ivan Espinosa, announced in an interview with “Nikkei” that the Japanese brand intends to reduce its stake in the French company Renault.
Nissan and Renault stated in March that they agreed to reduce the minimum required stake they hold in each other from 15% to 10%. According to the agreement, any sale of shares must be coordinated with the other party and includes a right of first refusal. The news comes after Renault announced the departure of Luca de Meo, which will take place on July 15.
“We are reducing our cross-shareholdings to invest in vehicles”, Espinosa said in the interview with the Japanese newspaper. The strategic change occurs at a time when Nissan aims to strengthen its product lineup and increase investment in electric and cutting-edge vehicles.
