Nissan is the third largest Japanese automobile company, after Toyota and Honda. Renault is a France-based automaker, with a presence in all major automobile markets around the world, barring the US. In 1999, Renault initially acquired 36.8% shares of Nissan and entered into a strategic alliance with the Japanese company Carmakers Renault (RNO.PA), Nissan (NSANY), and Mitsubishi (MSBHY) presented a new strategy designed to reinvigorate their 21-year alliance at a press conference on Wednesday. In the late 1990s, Nissan was debt-ridden and making huge losses.
The Renault-Nissan-Mitsubishi alliance was shocked last year when former Nissan boss Carlos Ghosn left Japan and arrived in Lebanon on a private jet coming from Turkey on December 30 to escape Japan’s “rigged” system of justice. And if that wasn't enough, the coronavirus pandemic pushed the French automaker to the edge of the rock forcing it to consider eliminating a number of models. Renault, Nissan and junior partner Mitsubishi, which joined the alliance in 2016, have clashed previously due to differences in corporate cultures and opposing views over structures. PARIS -- Renault and its alliance partner Nissan have the resources to weather the coronavirus crisis and will roll out strategic plans as scheduled in mid-May, the automakers’ top executives said. Struggling automakers Renault, Nissan and Mitsubishi unveiled Wednesday a plan to deepen their alliance, a top global producer of cars, that only months ago seemed on the verge of breakup. When Nissan and Renault set out to make their first mass-market electric car a decade ago, early ambitions of collaboration drained away amid infighting between the groups. The Renault Nissan alliance has put existential power struggles between France and Japan on the backburner, while it shuffles its short-term strategy to survive the coronavirus fallout. Carmakers Renault (), Nissan (), and Mitsubishi (MSBHY) presented a new strategy designed to reinvigorate their 21-year alliance at a press conference on Wednesday.The heads of the French and Japanese automotive companies said they would deepen their production co-operation to increase cost efficiency and ensure their survival as a group.