Nissan Motor will reject a management integration proposal from French partner Renault and will call for an equal capital relationship, the Nikkei newspaper reported on Monday, April 22, citing sources.
Nissan’s management feels the Japanese company has not been treated as an equal of Renault under existing capital ties, and a merger would make this inequality permanent, Nikkei wrote.
The outlook for the alliance, one of the world’s top automaking partnerships, has been in focus since the arrest in November of its main architect, Carlos Ghosn, for financial misconduct. The former Nissan and Renault chairman has denied the charges against him and has said he was the victim of a boardroom coup by Nissan executives opposed to closer ties.
Renault saved Nissan from the brink of bankruptcy two decades ago and under their current capital alliance, the French company holds greater control over its much larger partner.