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Last Updated : Jan 14, 2020 08:26 AM IST | Source: Reuters

Renault chairman says alliance with Nissan 'robust': Report

Renault shares hit six-year lows on Monday as investors worried the French group's 20-year cost-sharing alliance with Nissan was headed for a break-up without Carlos Ghosn to hold it together.

The alliance between the French carmaker Renault and its Japanese partner Nissan Motor is "solid, robust, everything but dead," the chairman of Renault, Jean-Philippe Senard, told Belgian newspaper L'Echo.

Renault shares hit six-year lows on Monday as investors worried the French group's 20-year cost-sharing alliance with Nissan was headed for a break-up without Carlos Ghosn to hold it together.

Long-standing tensions in the Franco-Japanese partnership have been heightened since Ghosn's arrest in Tokyo in November 2018 on allegations of financial misconduct, which he denies.

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A Financial Times report on Monday that Nissan executives are making contingency plans for a split with Renault appeared to accelerate a sell-off in the French manufacturer's shares.

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First Published on Jan 14, 2020 08:20 am
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