The automakers will collaborate on six new production vehicles for domestic and international customers, including two new fully electric vehicles, with an aim to become an international export hub.
Renault will reduce its holdings of Nissan shares from the current 43 per cent to 15, the same percentage the Japanese automaker has in its French partner, the NHK World reported, adding that Nissan will also hold up to 15 per cent of Renault's new electric vehicle unit.
Nissan has been negotiating for a partnership of equals. Renault currently holds 43 per cent of Nissan's shares. The Japanese automaker's stake in Renault is only 15 per cent.
The company said the reasons for the price hike are to partially offset the impact of constant increases in input costs largely driven by pricier commodities, fluctuations in foreign exchange rates, inflation and also due to regulatory obligations.
Munich [Germany]/ Pune (Maharashtra) [India], November 23 (ANI/BusinessWire India): KPIT Technologies (NSE: KPITTECH BSE: 542651), one of the largest software integration partners for the automotive & mobility industry - announced that it has been selected by Renault Group as a strategic
Moscow [Russia], March 24 (ANI): French carmaker Renault announced in a statement Wednesday that it has suspended all activities at its Moscow factory after Ukrainian leaders have called for a boycott against the company, accusing Renault of "sponsoring Russia's war machine."
Moscow [Russia], March 22 (ANI): French automaker Renault on Tuesday resumed production in Moscow after it suspended production due to a disruption in logistics in late February.
Seoul [South Korea], November 2 (ANI/Global Economic): LG Electronics announced on the 1st that it has supplied the next-generation infotainment system to French automaker Renault Group's new electric vehicle (EV) model 'Megane E-Tech'.
New Delhi [India], November 1 (ANI/Mediawire): More than a century after it was born, Renault announced its entry into India through the Renault-Nissan Alliance plant in the outskirts of Chennai.
New Delhi [India], August 30 (ANI/Mediawire): They used to say that the world is shrinking because of our ability to reach any part of the globe, any time. Transportation plays a significant role in our lives.
Seoul [South Korea], August 10 (ANI/Global Economic): Renault Samsung Motors will jointly develop eco-friendly cars with LYNK&CO, a joint venture of China's Geely Automotive Group and Volvo Motors Group.
Seoul [South Korea], May 6 (ANI/Global Economic): In 2020, when the union of Renault Samsung Motors, which was negotiating wages and collective agreements, went on a strike, the company closed down.