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Nissan, Renault, Mitsubishi In Talks To Form New JV : Reports

(RTTNews) - The alliance of Nissan Motor, Renault and Mitsubishi Motors are in talks to form a new company to jointly develop technologies for next-generation vehicles, such as artificial intelligence and electric propulsion, according to the reports citing people familiar with the matter.

Executives from the three companies discussed the proposal at a meeting Thursday at Renault headquarters on the outskirts of Paris, the reports said. Details including investment ratios will be decided later.

The alliance is considering including the strategy in a joint management plan to be announced by the end of the year, the reports said.

Tensions between Nissan and Renault surfaced in the turmoil triggered by former alliance leader Carlos Ghosn's arrest for financial mismanagement in November 2018.

On Friday, Renault-Nissan-Mitsubishi alliance said that the Alliance Operating Board has decided to appoint a General Secretary to be named in the coming days. The General Secretary will report to the Alliance Operating Board and CEOs.
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