FILE PHOTO: The logos of car manufacturers Renault and Nissan are seen in front of dealerships of the companies in Reims, France, July 9, 2019. REUTERS/Christian Hartmann
PARIS (Reuters) – The alliance between the French carmaker Renault (RENA.PA) and its Japanese partner Nissan Motor (7201.T) is “solid, robust, everything but dead,” the chairman of Renault, Jean-Philippe Senard, told Belgian newspaper L’Echo.
Renault shares hit six-year lows on Monday as investors worried the French group’s 20-year cost-sharing alliance with Nissan was headed for a break-up without Carlos Ghosn to hold it together.
Long-standing tensions in the Franco-Japanese partnership have been heightened since Ghosn’s arrest in Tokyo in November 2018 on allegations of financial misconduct, which he denies.
A Financial Times report on Monday that Nissan executives are making contingency plans for a split with Renault appeared to accelerate a sell-off in the French manufacturer’s shares.
Reporting by Matthias Blamont; Editing by Chris Reese