London sources have stated that Renault alliance partner Nissan are discussing plans for a closer tie-up in which the Japanese carmaker would acquire the bulk of the French state's 15% Renault holding. Meanwhile the carmakers are in talks with government officials over proposals by Renault-Nissan boss Carlos Ghosn that would see Paris give up influence at Renault and the French carmaker relinquish control over Nissan.
But any deal still faces significant hurdles not least its extreme political sensitivity in France and has yet to win government approval, they said. Moreover to do so, it must balance French and Japanese interests, avoiding the appearance of a takeover.
He added "Any discussion about a share
transaction involving Renault, Nissan or the French state is pure
speculation," Renault-Nissan spokesman Jonathan Adashek said. The alliance
"has no plans to change the cross-shareholding ratio of its member
companies". Further the French government officials did not return calls
and messages seeking comment.
Volkswagen expands production of EVs worldwide on a massive scale by end of 2022 Geneva sources reported that German auto major Volkswagen says India is not "really prepared" for a leap towards full electric vehicles (EVs) although the government's move to put it on the agenda is a good step. Meanwhile the company, which has announced plans to expand production of EVs worldwide on a massive scale with 16 locations to produce battery-powered vehicles by the end of 2022, also said India should be clear about what kind of technology it wants.
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