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Renault sells stake in Chinese JV to partner Dongfeng Motor

PARIS (Business) – Carmaker Renault announced its decision to sell out its stake in a Chinese joint venture with Dongfeng Motor Corporation to Dongfeng. This move, Renault anticipates, would help maximise synergies with partner Nissan. Renault is one of the leading global automotive companies hit hard by the coronavirus with factory closures and a demand […]

Renault aims to avoid renationalisation

PARIS – Renault may seek guarantees from the French government to bolster its finances to deal with the coronavirus crisis, but a renationalisation is under consideration, according to Renault Chairman Jean-Dominique Senard. “We may seek state guarantees like other companies. Remember that in 2008-2009 we never got to that point.” – Jean-Dominique

Ocon credits Hamilton and Mercedes for making him stronger

LONDON- Esteban Ocon says Lewis Hamilton and Formula One champions Mercedes have made him stronger as he starts afresh with Renault. The 23-year-old French driver spent last season as Mercedes reserve after a move to Renault from Racing Point, where he was replaced by team owner Lawrence Stroll’s son Lance, fell through. Linked to Mercedes […]

Nissan sues Ghosn for damages, risks plunging to loss

TOKYO- Nissan Motor Co could be heading for its first quarterly loss in more than a decade, three company sources said on Wednesday, as news emerged the Japanese carmaker is seeking $91 million in damages from ousted former boss Carlos Ghosn. Japan’s second-biggest automaker and its alliance with France’s Renault have been thrown into disarray […]