The leaders of Japan and France are planning to discuss the future of the cooperation between Nissan and Renault, in which the French government has the largest stake.
Nissan boss, Carlos Ghosn was arrested in Tokyo on November 19 over suspected financial misconduct. Â Nissan fired Ghosn as chairman after a nearly two-decade reign over the Japanese automaker.
French multinational Renault currently holds 43.4% of Nissan’s shares, while only 15% of the French automaker’s stocks belong to the Japanese car manufacturer.
The scandalous arrest has reportedly prompted Nissan to resume attempts to change what the Japanese company considers Renault’s outsized control of it. Now, Renault has shareholder voting rights in the tie-up.
French President Emmanuel Macron will discuss the recent arrest of ex-chairman of Carlos Ghosn with Japanese Prime Minister Shinzo Abe at the G-20 meeting amid a Japan-France spat over the troubled motor alliance.
The parties are reportedly arranging a short meeting on the sidelines of the Group of 20 summit of the world’s major economies, which started in Buenos Aires, Argentina.
The French side is reportedly planning to request greater transparency of the Japanese probe, claiming the case surrounding Ghosn has been recently underreported.
Last week, Japanese Industry Minister Hiroshige Seko and French Finance and Economy Minister Bruno Le Maire reaffirmed the two countries’ support for the Renault-Nissan-Mitsubishi alliance.
ABC Flash Point Automobile Blog News 2018.
Partners in crime, that is how western capitalism and democracy works?