Tokyo - The head of Renault-Nissan said on Wednesday that the two companies were committed to “safeguarding” their longstanding partnership, after warnings from Paris over a reported plan to push back against French voting influence.
Carlos Ghosn's comments to AFP at the Tokyo Motor Show came after Paris earlier this year gave itself and other long-term shareholders more power in Renault's affairs by doubling the number of votes they get for each share.
The plan, which Renault opposed, aggravated long-simmering questions about whether Renault and Nissan should change their ownership stakes in each other.
“This alliance has developed for 16 years. It's the best thing that could have happened for Renault and the best thing that could have happened to Nissan,” he said in an interview on the sidelines of the motor show.
“The benefits are huge for both sides, so if there is a priority for everyone, it is to safeguard this alliance.
“I have no doubt that we will continue to find areas of cooperation between the different parties so that this alliance can continue to progress,” he added.
Under an agreement struck in 1999 Renault owns about 43 percent of Nissan, which holds about 15 percent of the French's automaker's shares, but does not have voting rights.
Reports have suggested that the carmakers are in discussions about changing their ownership structure including giving voting rights to Nissan.
Ghosn on Wednesday declined to comment directly on those reports.
But his comments about the alliance came a day after French finance minister Emmanuel Macron warned against “destabilising” the partnership or making changes that could lead to “conflicts of interest”.
Ghosn was tapped by the French auto giant to rescue Nissan, which was on the verge of bankruptcy in the late 1990s.
But the pair's fortunes have changed, with Nissan now accounting for about two-thirds of their combined 8.0 million vehicle sales annually and contributing the bulk of the profits.
AFP