The transactions contained in the agreements would be subject to regulatory approvals, and completion is expected to occur in the fourth quarter of 2023. In the tangled web of individual country industrial policy this brings some measure of stability to a global , multi-national, politically diverse enterprise as the movement to electrified vehicles and other earth-saving technologies continues. At the very least it locks in some badly needed economies of scale. It follows a general realignment ongoing other global automakers. (autoinformed.com on: Corporate Climate Change – Honda Reveals Reorganization; Khan, Mercedes Chief Technology Officer, Leaves Prompting Reorganization with Focus on Electric Only; GM, Honda to Develop New EVs for Sale in 2027 )

At its core there is a rebalancing of the cross-shareholdings between Renault Group and Nissan. The two companies intend to enter into a new 15-year Alliance agreement [by 31 March 2023] and replace the current agreements governing the Alliance (the Restated Alliance Master Agreement, the Alliance Equity Participation Agreement and the Memorandum of Understanding of March 12, 2019).

Re-balanced cross-shareholdings between Renault Group and Nissan

Nissan and Renault Group would retain a 15% cross-shareholding, with a lock-up obligation, as well as a standstill obligation. Renault Group will transfer 28.4% of Nissan shares into a French trust. The entrusted shares would be voted neutrally, except for:
• the election or dismissal of the directors of Nissan nominated by Renault, (where the trustee would vote as directed by Renault);
• the election or dismissal of directors who are nominated by the Nissan Nomination Committee, other than the Renault Group nominees (where the trustee should vote in favor of the Nissan Nomination Committee decisions and proposals).
• shareholder proposals not supported by the Nissan board of directors (where the trustee should abstain).

The transactions contained in the agreements would be subject to regulatory approvals, and completion is expected to occur in the fourth quarter of 2023. In the tangled web of individual country industrial policy this brings some measure of stability to a global , multi-national, politically diverse enterprise as the movement to electrified vehicles and other earth-saving technologies continues. At the very least it locks in some badly needed economies of scale. It follows a general realignment ongoing other global automakers. (autoinformed.com on: Corporate Climate Change – Honda Reveals Reorganization; Khan, Mercedes Chief Technology Officer, Leaves Prompting Reorganization with Focus on Electric Only; GM, Honda to Develop New EVs for Sale in 2027 )

At its core there is a re-balancing of the cross-shareholdings between Renault Group and Nissan. The two companies intend to enter into a new 15-year Alliance agreement [by 31 March 2023] and replace the current agreements governing the Alliance (the Restated Alliance Master Agreement, the Alliance Equity Participation Agreement and the Memorandum of Understanding of March 12, 2019).