Renault Group and Nissan Motor Co., Ltd have entered into the definitive agreements envisioned in the February 6 binding framework agreement of their Alliance, extending their collaboration in specific areas.

The agreements focus on three initiatives:

• High-value-creation operational projects in India, Latin America and Europe
  The partners are considering new key projects in these three regions to deliver “win-win, large-scale and actionable benefits.” Renault Group and Nissan have already announced their renewed commitment to Indian operations through new investment and vehicles.

• Enhanced strategic agility with new initiatives that partners can join.
  The partners will explore their existing strategies in electrification and low-emission technologies by investing and collaborating in respective member-company.Nissan will become a strategic investor in Ampere, Renault Group’s new EV and software entity in Europe.

• Rebalanced Renault Group-Nissan cross-shareholdings and reinforced Alliance governance.
  The definitive agreements also formalize the rebalancing of Renault Group-Nissan cross-shareholdings and the reinforcement of the Alliance governance.

Founded in 1999, the Renault-Nissan-Mitsubishi Alliance is a global automotive partnership “created to support member-company competitiveness and profitability,” according to Nissan. The model leverages each member company’s “leadership strengths, uniting their skills, talents and technologies to streamline idea sharing, fast-track innovation, improve cost-efficiency and add value.”

The agreements represent a new chapter in the Alliance, said Alliance Chairman Jean-Dominique Senard, further commenting, “They strengthen our long-standing partnership and will maximize value creation for each Alliance member. This also lays the foundations for a new balanced, fair, and effective governance.”

Calling the agreement completion the next phase of the collaboration, Nissan president and CEO Makoto Uchida said, “This will create additional value through initiatives aligned to Nissan's Ambition 2030 and electrification strategy. The investment opportunity in Ampere complements and strengthens Nissan’s ongoing electric push in Europe and will deliver numerous synergies, including cost efficiencies, regulatory compliance, and a broader range of EV products and powertrains.”

Luca de Meo, Renault Group CEO of Renault Group, said “We are all engaged with the right mindset and welcome Nissan as a strong partner in our upcoming EV and software pure player Ampere … allowing Renault and its Alliance partners to position themselves ahead of the starting grid for the EV and software race in Europe.”

Pending a limited number of conditions precedent, including regulatory approvals, and completion is expected to occur in the fourth quarter of 2023.