This article describes the new direction that Nissan, Renault, and Mitsubishi are heading as they begin a collaborative EV venture.
“On behalf of Nissan, I thank our Russian colleagues for their contribution to the business over many years. While we cannot continue operating in the market, we have found the best possible solution to support our people,” Nissan president and CEO Makoto Uchida said in a statement.Nissan is on the brink of investing anywhere from $500 million to $750 million into Renault’s electric vehicle business.
But Nissan’s efforts to stabilize its business operations through a new Renault collaboration have caught most of the headlines, with reports indicating that executives from Nissan and Renault met this week to discuss an EV grab, shareholdings, and other issues. Nissan’s consideration to invest in the new Renault EV entity which will support Renault’s Renaulution strategy and will be one of the strategic steps towards Nissan Ambition 2030.
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