PARIS/TOKYO - Renault shares hit six-year lows on Monday as investors worried the French automaker’s 20-year cost-sharing alliance with Nissan is headed for a break-up without Carlos Ghosn to hold it together.
Following a dramatic flight from Japanese justice late last month, Ghosn called the alliance a “masquerade” during a press briefing last week. Ghosn’s attacks and the loss of confidence among investors have caught Renault and Nissan management in the middle of transitions to new chief executives. A major sticking point since 2015 has been the equal division of costs for R&D into new technology and products, two sources close to Nissan said.
Renault is in the process of choosing a new CEO after ousting Thierry Bollore in October and late last year Nissan picked Makoto Uchida, known for having close ties with Renault, as CEO.
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