In the decades since Renault rescued Nissan from bankruptcy, their union has brought strength but also friction, heightened by the 2018 arrest of alliance head Carlos Ghosn.
As the French and Japanese auto giants announce a major reshaping of their partnership, here is a recap of key events:In March 1999, Renault comes to the rescue of heavily indebted Nissan, which needs a partner in order to survive.Later that year, Renault number two Ghosn unveils a recovery plan for Nissan, including 21,000 job losses.As the two companies cooperate on distribution, purchasing and manufacturing, their alliance starts to bear fruit.
By 2003, Nissan has become the world's second-biggest carmaker by market capitalisation, and in 2005 Ghosn takes the reins of both firms.Tensions erupt in 2015. Nissan is angry that the French state's stake in Renault's capital has been increased to nearly 20 percent . In 2017, Ghosn cedes the post of Nissan CEO to Hiroto Saikawa, but remains chief of Renault and the three-way partnership.
Soon, the Covid-19 pandemic pushes the Ghosn controversy off centre stage and brings fresh economic mayhem to the alliance, paralysing production lines.
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