Renault's Full Ownership: A New Era for Renault Nissan JV

The Competition Commission of India (CCI) has granted approval for Renault Group to acquire the remaining 51% stake held by Nissan in their joint venture, Renault Nissan Automotive India Pvt Ltd (RNAIPL). This acquisition will enable Renault to have complete control of their Indian manufacturing entity.

Renault Group B V and Renault SAS will take over the entire equity holdings, including preference shares, originally held by Nissan entities in RNAIPL, thus marking a significant strategic move in expanding Renault's operational footprint in the Indian automotive market.

Nissan, however, will maintain its presence in the joint venture as a minority stakeholder in Renault Nissan Technology & Business Center India. The financial terms of the acquisition have not been disclosed, but both parties assure continued collaboration and vehicle sourcing for Indian and export markets.

(With inputs from agencies.)