
Business Apr 22, 2022
Renault exploring sale of Nissan stocks to fund EV shift, sources say
Nissan itself may be willing to buy some of the 1.83 billion shares in the Japanese automaker that Renault owns.
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Nissan itself may be willing to buy some of the 1.83 billion shares in the Japanese automaker that Renault owns.
Among topics for discussion will be emerging plans for a possible separate listing of Renault’s electric-vehicle unit and potential new partner for the legacy operations, sources say.
The French company has lost nearly 30% of its market value in the wake of Russia’s invasion of Ukraine and ensuing economic sanctions.
Defense stocks had already moved higher last week after the Ukraine conflict escalated, fanning concern over Russia’s offensive potentially expanding to other nations.
The mega-order will create thousands of jobs and boost Britain’s two main train factories, the historic Litchurch Lane works in Derby and the Newton Aycliffe plant in the northeast.
With Europe expected to lead the world in electric-car sales for a second straight year, a rush to build a battery-supply chain from scratch is playing out across the continent.
The move would be a reversal of last year’s decision to pull back from Europe.
French Finance Minister Bruno Le Maire on Monday declined to confirm a probe into Ghosn’s tax affairs.
Nissan is exploring ways to sell some or all of its 34% stake in Mitsubishi Motors.
The former chairman of Nissan and Renault, who has denied financial misconduct charges, has long said he was set up to prevent deeper integration between the automakers.