Renault, Nissan reboot auto alliance for post-Ghosn era

By KELVIN CHAN and YURI KAGEYAMA
AP Business Writers

LONDON (AP) — Automakers Renault and Nissan on Monday formalized their reboot of a relationship that had grown rocky. Under the decision announced Monday, both companies will own 15% in the other. Up to now, Renault Group of France owned 43.4% of Nissan, while Japanese automaker Nissan Motor Co. owned 15% of Renault. The uneven shareholdings had been viewed at times as a source of conflict. In an interview with AP in London, Renault Chairman Jean Dominique Senard highlighted the French company’s push into electric vehicles and said the spectacular fall of top executive Carlos Ghosn is “in the past.” Ghosn led successful turnarounds at both companies before his arrest on financial misconduct charges and daring escape.