OCTOBER 31, 2001
Renault and Nissan strengthen links
RENAULT and Nissan have announced a strengthening of their relationship with the French car company increasing its share in the Japanese company to 44.4% and Nissan acquiring 15% of Renault's shares. The two firms have also set up a joint-venture company which will oversee the continuing moves towards a complete merger. The two companies say that they will have fully integrated production and purchasing operations by 2010. The share dealings mean that the French government's share of Renault has been reduced to 38%.
The latest dealings have further enhanced the prospects of Nissan boss Carlos Ghosn as the man most likely to take over from Louis Schweitzer as the head of Renault.
Nissan has been rebuilding in recent months and is now keen to make a bigger impact in the US market where the are plans for an attempt to win the Indianapolis 500 with a TWR-developed Infiniti engine.
Renault on the other hand is concentrating on winning in F1 in the years ahead.
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