Japanese car manufacturer Nissan on Tuesday refuted media reports that indicate the company intends to pull out of the Renault-Nissan-Mitsubishi alliance
MOSCOW (Pakistan Point News / Sputnik - 14th January, 2020) Japanese car manufacturer Nissan on Tuesday refuted media reports that indicate the company intends to pull out of the Renault-Nissan-Mitsubishi alliance.
On Monday, The Financial Times newspaper reported that Nissan's senior management had accelerated the development of secret contingency plans for a possible split from the alliance, after ex-Nissan chairman Carlos Ghosn skipped bail in Tokyo, where he is scheduled to stand trial over alleged financial misconduct, and fled to Lebanon.
"Recently, there have been speculative international media reports on Nissan's stance towards the Alliance. Contrary to the assertions in the articles, Nissan is in no way considering dissolving the Alliance," the car manufacturer said in a press release, adding that the alliance was set up to enhance future success.
It added that the alliance was "the source of Nissan's competitiveness."
Ghosn's detention is related to accusations that he significantly underreported his income during his time as head of the Renault-Nissan-Mitsubishi Alliance. Ghosn claimed that he was paid a salary of 7.8 billion Yen ($71 million) from 2010-2018, but prosecutors allege that he was in fact paid 17 billion yen. He is due to stand trial in Japan next year.
The Renault-Nissan Alliance was first created in 1999 after the French carmaker purchased shares in Nissan. The alliance rebranded itself as the Renault-Nissan-Mitsubishi Alliance in September 2017, following Nissan's acquisition of a controlling stake in Mitsubishi in 2016.
