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BREAKING NEWS

BREAKING NEWS

Renault push to block Nissan governance shift 'endangering' alliance - source

Renault push to block Nissan governance shift 'endangering' alliance - source
FILE PHOTO: The logos of car manufacturers Renault and Nissan are seen in front of a common dealership of the companies in Saint-Avold, France, Jan. 15, 2019. REUTERS/Christian Hartmann -
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Christian Hartmann(Reuters)
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TOKYO (Reuters) – Renault’s recent push to block a governance overhaul at Nissan Motor Co has put the Franco-Japanese automaking alliance in jeopardy, a person familiar with Nissan’s thinking told Reuters.

The two-decade-old partnership of Renault SA and Nissan was plunged into fresh crisis this week after Renault signalled it would block its partner from adopting planned governance reforms unless the French automaker received more say in the new system. Nissan has publicly called that demand “most regrettable”.

“I have to say that they are endangering the alliance. They have to be very careful not to antagonise Japanese people, shareholders,” the person said, referring to Renault.

“Renault has been saying the alliance is important and irreversible but what they are trying to do is to break the alliance,” the person said, declining to be identified because of the sensitivity of the issue.

(Reporting by Linda Sieg; Writing by David Dolan; Editing by Chang-Ran Kim)

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