French carmaker Renault has warned its alliance partner Nissan that it will block the Japanese auto firm’s plan to overhaul its governance structure, Nissan confirmed on Monday, a move it called “regrettable.”
Italian-American carmaker, Fiat Chrysler, withdrew Thursday its proposal to merge with Renault, blaming “political conditions” in France.
Renault officials on Wednesday sought to reassure the firm’s alliance partner Nissan over a possible tie-up between the French automaker and Fiat Chrysler, which could up-end the auto industry.
French automaker Renault said on Monday that it would study “with interest” a 50-50 merger proposal from Fiat Chrysler, a deal that could reshape the industry as Renault reviews its options following the arrest in Japan of its chief executive.
French carmaker Renault is in talks with Fiat Chrysler Automobiles with the long-term prize a world-leading alliance including Japan’s Nissan and Mitsubishi, reports say.