“Together, the public and private sectors can accelerate the transition to a zero-emission society”, said Carlos Ghosn, Chairman and CEO of the Renault-Nissan Alliance. Nissan Chief Competitive Officer Hiroto Saikawa has laid out a scenario to Renault board members that could grant the Japanese company voting rights in the French carmaker, reversing what’s been a partnership with one-sided control, people familiar with the situation said.
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“Nothing is more important than preserving the alliance”, Ghosn said to reporters Tuesday in Tokyo.
The dispute with France was sparked after the government increased its stake in Renault to 19.74 percent from 15.01 percent.
“At the same time, they offer a solution for drastically reducing tailpipe Carbon dioxide emissions”.
“I have no doubt that we will continue to find areas of cooperation between the different parties so that this alliance can continue to progress”, he added.
But the pair’s fortunes have changed, with Nissan now accounting for about two-thirds of their combined 8.0 million vehicle sales annually and contributing the bulk of the profits.
The move was meant to boost France’s power at one of the country’s key manufacturers through a law that doubles the voting rights of investors who hold stock for more than two years.
Ghosn’s warning shot may be effective only if the government believes he is prepared to follow through with strategic steps against Renault’s main shareholder.
During a 2011 scandal in which Renault was hoaxed into firing three executives falsely accused of selling company secrets, Nissan feared Ghosn might be replaced by a French appointee who would reassert the smaller carmaker’s control.
“In a statement Renault-Nissan Alliance on Monday said it will provide the world’s largest electric-vehicles fleet to an worldwide conference”. France has yet to reduce the stake back to its original level as planned.
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Senior officials are sitting on the full holding for now, he said, “because they are nervous about what Ghosn is planning”.
