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Reno has announced that it will acquire the remaining 51 per cent stake of Reno Nissan Automotive India Private Limited (RNAPL). Currently, this stake is with Nissan Motor Corp.
Big deal of Renault!
Highlights
- Big news from Indian motor vehicle sector
- Reno bought full share of Nissan
- Reno and Nissan will continue working together in India.
New Delhi. The French automaker Reno (Renault) said on Monday that it would acquire the share of its Japanese partner Nissan in its Indian joint venture. The company said in a statement that Reno Nissan will acquire 100 % ownership of Automotive India Private Limited (RNAIPL) by acquiring 51 per cent stake with Nisan. However, the company did not disclose financial details related to this transaction.
The Reno Group and Nissan have made a share purchase agreement regarding this. This agreement also includes an operational agreement to continue the current project between Reno Group and Nissan and define the future companies in India.
According to the statement, Nissan will continue to use RNAIPL for manufacturing and export of vehicles for India in the coming years. The company said that RNAIPL will continue production of new models of Nissan including new Magnite. According to this agreement, the Reno Group and Nissan will continue to do jointly work. Under the agreement, the Reno Group will develop and produce a vehicle for Nissan from 2026 through the electric vehicle brand ampere. This model will be designed to Nissan.
Interest in improving Nissan’s performance as soon as possible
Reno Group CEO Luka de Meo said, “Reno Group has a keen interest in improving Nissan’s performance as a long-time partner and main shareholder with Nissan. The main objective of our discussions was practicality and business-oriented mindset, so that the most effective ways to support their recovery plan were to be identified as well as supporting the Reno Group Value-Creation Business Opportunities can be developed.
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