Renault Turnaround Ahead of Schedule Despite Industry Headwinds

Renault owns 43.4% of Nissan, while Nissan owns roughly 15% of Renault and 34% of Mitsubishi. Under a new alliance agreement, Renault will transfer 28.4% of Nissan shares into a French trust. The trust will sell shares under Renault direction but there is no time limit applied. Nissan shares will get voting rights. Renault and Nissan shares would be capped at 15% of the applicable voting rights. In 2022, Renault disposed of its 67.7% stake in the parent of Russian automaker AvtoVAZ and its other Russian assets, but a Russian financial services company remained on the balance sheet in assets held for sale at the end of 2022. In addition, Renault owns 99.4% of Romanian automaker Dacia, and 80.0% of South Korean Samsung Motors.