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Renault-Nissan-Mitsubishi Alliance announced recently reached a new framework agreement to further strengthen the business model and organizational structure. Renault Group, Nissan Motor and Mitsubishi Motors reaffirmed the importance of the alliance in strengthening their respective strategies and competitiveness, and will take measures to promote resource sharing and help the three companies achieve effective improvement in competitiveness and performance. the medium-term strategic plans of the three member companies will be announced at the same time in May 2020.

It is understood that Renault and Nissan formed an alliance on March 27, 1999. On May 28, 1999, Renault bought a 36.8% stake in Nissan for $5.4 billion at a price of 400 yen per share, becoming a major shareholder of the company and forming the Renault-Nissan alliance.

In 2016, Mitsubishi Automotive Industry Co., Ltd. announced its acquisition intention and signed a merger contract. Renault-Nissan alliance acquired a 34% stake in Mitsubishi Motors, becoming Mitsubishi Motors' largest shareholder. Nissan CEO Ghosn was selected as the next Mitsubishi Automobile CEO.

Under Ghosn, the Renault-Nissan-Mitsubishi alliance sold 10.61 million vehicles in 2017, beating Volkswagen to become the world's largest manufacturer. Among them, Renault sold 3.76 million cars, Mitsubishi sold 1.03 million and Nissan sold 5.82 million.

At the beginning of the collapse of the Renault-Nissan-Mitsubishi alliance, in November 2018, Nissan CEO Ghosn was arrested on suspicion of financial irregularities, which worsened the alliance, once revealed that the alliance had collapsed, and relations among alliance members became increasingly strained. Especially after Ghosn absconded to Lebanon, many media reported that the alliance may disintegrate.

On January 14th Nissan issued a statement saying it would never consider disbanding the alliance. Renault chairman Jean-Dominique Sennard also said in an interview with the Belgian Echo that the Renault-Nissan-Mitsubishi alliance is solid, firm and impossible to die.

The Renault-Nissan-Mitsubishi Alliance once again reaffirmed the importance of the alliance in strengthening their respective strategies and competitiveness, which is essential for maintaining the unity and development of the alliance. In the context of the current decline in the auto market, a number of car companies have announced that they "stay warm together" in order to alleviate the impact of the depressed market environment on the company.

At the end of 2019, Fiat Chrysler Group (FCA) and Peugeot Citroen Group (PSA) officially announced the merger and issued a formal statement on December 18. In addition, Great Wall and BMW, Geely and Mercedes-Benz, BMW and, Volkswagen and Ford announced a partnership in electric cars, self-driving and travel services.

In fact, there are many problems in the relationship between Renault, Nissan and Mitsubishi Alliance, but under the background that the current automobile market environment is not optimistic, the loosening of the alliance is likely to hinder the development expectation. Renault, Nissan and Mitsubishi urgently need to solve the problems between them.

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