Nissan will be a major customer for Renault's combustion-engine venture as the partners push on with reshaping their troubled alliance and make progress in the EV transition.
The Japanese carmaker will receive gearboxes and engines for 12 of its plants, as well as half a million parts annually, the companies said Wednesday. Junior alliance partner Mitsubishi Motors will also be a customer alongside multiple others in the Horse combustion-engine unit, set up with China’s Zhejiang Geely Holding Group.
The steps are part of a major revamp of working together following years of growing tensions, allowing the manufacturers to take on new partners and independent ventures. This includes Renault’s plan to list its electric-vehicle business, targeting a valuation of as much as €10 billion ($10.8 billion), with both Nissan and Mitsubishi pledging significant investments.