Renault and Nissan deny break-up is coming
Share prices of both auto makers plummet amid rumours relationship is on the rocks
Renault and Nissan have denied media reports that they are heading for a break up, as shares fell to their lowest in years.
In a statement Nissan said it was “in no way considering dissolving the alliance", which includes Mitsubishi Motors.
“The alliance is the source of Nissan’s competitiveness. Through the alliance, to achieve sustainable and profitable growth, Nissan will look to continue delivering win-win results for all member companies.”
Meanwhile, Renault chairman, Jean-Dominique Senard, told Belgian newspaper L’Echo, the alliance is “solid, robust, everything but dead”.
Renault shares hit a six-year low on Monday, falling 3.2 per cent, as investors feared the 20-year alliance with Nissan was headed for an end. They have recovered slightly to €40.70 (£34.93, €45.31) at the time of writing.
Nissan shares have also taken a big hit, falling to their lowest in more than eight years. They are currently down 2.97 per cent to 618 Yen ($5,62, £4.33, €5.04).
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