The current status quo about the alliance between French automaker Renault and its Japanese partner Nissan cannot carry on and must be modified as it is presently weakening Renault, stated French finance minister Bruno Le Maire.
“The status quo is not possible, the status quo is weakening the overall group, we have to push forward, make progress and consolidate this alliance,” Le Maire informed reporters at a meeting held at the OECD.
Le Maire had previously discussed the issue with Japanese industry minister Hiroshige Seko.
Nissan said previously this month that Hiroto Saikawa would stay on as chief executive, backing the protege of ex CEO Carlos Ghosn even as top shareholder Renault had previously pushed for a change in the Japanese automaker’s leadership.
The make-up of Nissan’s board has broad implications for the Nissan-Renault alliance. The unequal relationship between them – smaller Renault has a bigger stake in Nissan – has long been a source of friction.