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When did Renault buy Nissan?
I recently heard something about Nissan and Renault working together, or Nissan being owned by the other company. I don’t know a lot about car manufacturing behind the scenes, but I’m curious—especially since I currently own a Nissan, not to mention my dad was a long-time Renault fan. When did Renault buy Nissan?
Kathryn Mae Kurlychek · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
It perhaps comes as no surprise when German auto manufacturing companies, like
Volkswagen
, eat up fellow German companies or when British automakers merge to expand their scope.However, a union between French and Japanese auto companies was unheard of, especially when Renault and Nissan joined hands. That was in 1999, to be exact.
The partnership was spearheaded by a charter, which formed the Renault-Nissan Alliance in July 1999. Per the agreement outlined in the charter, the Renault company was granted an impressive 44.3% stake in Nissan. In return,
Nissan
earned 15% of Renault’s shares. The compromise aligned the interest of both companies—and proved that teamwork really does make the dream work. By 2004—in just five years of partnership—the Renault-Nissan Alliance saw a staggering 5.7 million in combined sales and represented nearly 10% of the global automobile market.
Today, over 20 years later, the agreement between Renault and Nissan stands steadfast. These French and Japanese automakers continue collaborating to produce powerful and well-made vehicles.
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- Gregory R.
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