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    Nissan CEO eager to rebuild relationship with Renault

    TOKYO (ANN/JAPAN NEWS) – President and Chief Executive Officer (CEO) of Nissan Motor Co Makoto Uchida, expressed willingness to rebuild the Japanese automaker’s relationship with French partner Renault SA on Wednesday.

    “The most important thing for us is to elevate the alliance to the next stage in order to increase Nissan’s competitive edge,” Uchida told a press conference.

    Nissan hopes to lower Renault’s stake in the company from the current 43 per cent to 15 per cent. Nissan currently owns 15 per cent of Renault.

    Uchida said that Nissan is currently engaged in “an open and constructive discussion,” with Renault.

    On Nissan’s possible investment in a new electric vehicle unit of Renault, Uchida said that his company is considering the benefits of such a move.

    On Tuesday, Renault CEO Luca de Meo said that an announcement will be made within a few weeks on the three-way alliance involving Nissan, Renault and Mitsubishi Motors Corp. Nissan raised its consolidated earnings forecasts for the year ending next March.

    The impact of higher commodity prices will be offset by the benefits of a weaker yen and cost cuts, the company said.

    It raised its sales forecast to JPY10.9 trillion from JPY10 trillion and its net profit projection to JPY155 billion from JPY150 billion.

    Nissan Motor Co President and Chief Executive Officer Makoto Uchida. PHOTO: JAPAN NEWS
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