At the end of last month, we reported that the Renault-Nissan-Mitsubishi alliance, the world's largest automotive alliance, had made significant progress in restructuring, and the problem of unequal shareholding that had plagued Nissan for more than 20 years had been initially resolved.
Renault agreed to reduce its stake in Nissan to 15 percent from the current 43.4 percent, a percentage equal to Nissan's Renault, and the alliance has finally entered a relationship of true equality after 20 years of existence.
However, details of the specific agreement on the alliance restructuring were still being finalized at that time.
On February 6, Nissan President Makoto Uchida, Renault CEO Luca De Meo, and Mitsubishi Motors President Takao Kato gathered in London to announce the details of the next cooperation between the three parties after the reorganization of the alliance.
Regarding the love and hate between the members of the alliance, this picture can well summarize the love story between Renault and Nissan for 24 years.
With the approval of the boards of directors of both companies, Renault and Nissan will each hold 15% of each other's shares, while Renault's additional 28.4% of Nissan shares will be transferred to a French trust company.
In terms of models, Renault, Nissan and Mitsubishi will cooperate in Latin America, India and Europe as follows:
Latin America:
The Renault Group will develop a new half-ton pickup truck model and introduce it to the Argentine market, where Nissan Motor is located.
Continued focus on one-ton pickup trucks and dual-brand production through Renault's plant in Córdoba, Argentina.
Nissan will produce a new model for Renault at its plant in Mexico.
Nissan and Renault will share the commercialization of two A-segment electric vehicles, both based on the CCF-A EV platform.
India:
Renault and Nissan will collaborate on a number of new vehicle projects, including a shared new SUV and a new Nissan model derived from the Renault Triber.
Nissan and Renault will also launch shared A-segment electric vehicles in India.
Europe:
Renault and Mitsubishi will build two new models, the Mitsubishi ASX and Mitsubishi Colt, based on the Renault Captur and Clio through the CMF-B platform.
Renault will launch the FlexEVan light commercial vehicle in 2026 for Nissan's European market.
After 2026, Nissan and Renault will explore cooperation opportunities in the next generation of C-segment electric vehicles.
In 2026, the company will start producing Nissan brand compact B-segment electric vehicles based on the CMF-B EV platform at the Renault Electric Vehicle Manufacturing Center in France.
In addition to models, the alliance will cooperate in distribution, after-sales, charging infrastructure and batteries.
More importantly, Nissan confirmed that it will invest 15% in Renault's new company Ampere, which focuses on electric vehicles and software, as its strategic investor, and Mitsubishi is also considering investing in Ampere.
This is the fundamental reason why Renault agreed to reduce its stake in Nissan, in order to gain the support of alliance members for Ampere, because Renault knows that it is difficult to compete with emerging competitors such as Tesla in the field of intelligence and electrification on its own.
Nissan agreed to invest in Ampere, in addition to being able to exchange for the equivalence of the relationship with Renault Capital, to solve this heart disease for more than 20 years, but also because it saw that Ampere could help it expand its business opportunities in the European electric vehicle market.
In addition, Nissan and Mitsubishi have also confirmed that they will become customers of Horse, Renault's internal combustion engine and hybrid technology project. Previously, Renault and Geely announced a cooperation in the Horse project, which caused dissatisfaction from Nissan.
After 24 years, the Renault-Nissan-Mitsubishi alliance has entered a new phase, and judging from the details of the agreement reached by the three parties, everyone has agreed to let go and give each other more freedom and face future development with a more mature partnership.
While the effect remains to be seen, knowing how to let go is already a step in the right direction for the world's largest automotive alliance.