Transportation

Renault Reaps €362 Million From Selling More of Its Nissan Stake

Partners to launch new models for Indian, export market
Renault chairman says alliance remains at center for partners

A Renault Megane E-tech EV.Photographer: Benjamin Girette/Bloomberg

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By Albertina Torsoli and Sanjai P R

March 27, 2024 at 9:30 AM UTC

Updated on

March 27, 2024 at 2:20 PM UTC

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Renault SA and partner Nissan Motor Co. are taking more steps to recast their alliance with the French manufacturer further reducing its stake while pushing on with joint plans in India.

The maker of Megane E-Tech cars plans to offload around 2.5% of its holding in Nissan, expecting proceeds of as much as €362 million ($391 million) that may help with a goal of regaining its investment grade rating, Renault said Wednesday.