The Renault-Nissan-Mitsubishi Alliance will always remain a partnership, with no one party dominant to the point that it completely owns the others, according to Carlos Ghosn, the chairman and CEO of the alliance.
Speaking to shareholders of Mitsubishi Motors at their annual meeting in Tokyo earlier today, he reiterated that there was “zero chance” that the French automaker will make the two other companies wholly-owned subsidiaries, The Mainichi reports.
At the meeting, Mitsubishi shareholders expressed their concern over the company losing its strengths or being taken over by Nissan or Renault, but Ghosn assuaged their fears. “If Nissan wanted to acquire Mitsubishi, Nissan would have bought all of Mitsubishi. We did it because we don’t believe in acquisition, we believe in partnership. And this is the essence of an alliance,” he said.
“Anybody who will ask for Nissan or Mitsubishi to become a fully-owned subsidiary of Renault has zero chance of getting the result. We do not believe that companies where you have one company dominating the others are sustainable. It doesn’t work,” he told the shareholders.
The initial alliance was formed in 1999 – Renault came to Nissan’s aid then when the latter was on the verge of bankruptcy, and the French carmaker has since held a 43.4% stake in the Japanese company, with Nissan in turn given a 15% non-voting stake in Renault.
Since then, however, Nissan has grown to be a more profitable company than its French partner, and now commands a larger market value and better sales figures. In October 2016, Nissan acquired a 34% stake in Mitsubishi, forming the three-way alliance.
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AI-generated Summary ✨
Comments mainly discuss car brand reputations, industry leadership, and government influence. Renault is praised for aiding Nissan and selling better in Europe, while Japanese brands are criticized for quality issues. Ghosn is seen as an effective leader, with some suggesting Malaysia’s GLCs could benefit from similar management. Off-topic arguments about politics, foreign workers, and personal attacks are also present, but the core focus involves brand performance, leadership, and industry strategies related to Renault, Nissan, and other automakers.