Renault continues to battle declining sales for a fourth consecutive year, reporting an overall decrease in group sales by 5.9% in 2022. Since the dip likely isn’t entirely Shakira’s fault, the French carmaker initiated a major overhaul in November to restructure their businesses and restore confidence.
That may help? An integral part of Renault’s efforts includes plans to revamp their somewhat contentious auto alliance with long-time partner Nissan. Under the restructured alliance, Renault is expected to reduce its stake in Nissan while Nissan is expected to invest in Renault’s new electric vehicle business, Ampere.
Though the companies have been struggling for months to reach an agreement, the details are expected to be finalized at a meeting on January 26, with formal announcements slated for early February