Nissan Chief Halts Talks on Structure of Renault Alliance

Nissan’s new chief executive has shelved talks on levelling the ownership structure on its alliance with Renault, saying the two carmakers will focus on reviving their struggling businesses, the Financial Times reported. In his first news conference since taking the top job on Sunday, Makoto Uchida said Nissan was committed to its 20-year partnership with the French group, where ties were strained in the wake of the ousting a year ago of their former boss Carlos Ghosn. “I am not holding any discussions on capital structure at the moment,” Mr Uchida said at Nissan’s headquarters in Yokohama. “Both Renault and Nissan are struggling with earnings. In the near term, the priority is in finding how the alliance can contribute to each of the companies in raising their revenue and profits.” Read more