Ghosn says Renault Nissan alliance should remain unchanged image

Carlos Ghosn, the chief executive officer of Japan’s second largest automaker, Nissan Motor, has recently addressed the woes surrounding the French government’s holding increase in alliance partner Renault.

Ghosn said the Japanese partner should not modify its capital alliance with Renault for the time being even as the French government has managed to lift its stake and voting rights in the French automaker unhindered. The owner of 20 percent of Renault, the French government has repeatedly said it only wants to safeguard its interests in the automaker and would give up the newly acquired holding in the near future even as the company is deeply interconnecting with its Japanese partner. Ghosn, discussing with media representatives in Japan, said the capital alliance was “stable” and had “zero influence” on current operations. But the Japanese automaker has outshined its French partner even as the latter saved it from bankruptcy back in 1999 – Nissan now makes up around two-thirds of total group sales and an even larger chunk of the profit.

In related news, Ghosn also addressed the concerns surrounding the recent string of new recalls of Takata-built airbags in Nissan vehicles, with the executive saying the automaker has set aside enough cash to cover the expenses from additional recall costs after the automaker last week expanded with new safety campaigns its Takata-related recalls, next to Japanese peers Toyota and Honda. Since 2008, around 36 million autos have been recalled because of Takata airbag inflators, with ten automakers implicated in the global safety campaigns.

Via Reuters