The point was to tell the world that the Renault-Nissan-Mitsubishi Alliance is strong and committed to finding common synergies that will ensure all three brands thrive in an electric and connected future. And in that, it was arguably successful.
“Three years ago, the Alliance was facing a crisis unprecedented in its history, based on a lack of trust,” said Alliance chairman Jean-Dominique Senard in his opening remarks. “This period belongs to the past.”
He reminded viewers of the online presentation that the Alliance employs 420,000 people globally, covers all the world’s major markets and operates 29 plants.
"The solidity of the Alliance foundation is a fundamental asset of our three companies,” he said.
That solidity was very much in doubt in 2018 when then-CEO Carlos Ghosn was arrested on landing in Tokyo airport, charged with financial irregularities. The soap opera that followed shed an unwelcome light on tensions within the Alliance, precipitating the crisis.
Ghosn himself alleged that he was set up by a Nissan board opposed to his proposed merger of Nissan and Renault. As late as last year, he called the 22-year-old Alliance a "zombie".
The years of Nissan’s unhappiness at being steered by Renault by virtue of the French company’s 43% stake in its Japanese partner from bailing Nissan out of bankruptcy in 1999 looked to have finally spilled over.
Financial problems in 2019 were accelerated in 2020 when the Covid-19 pandemic exposed structural weaknesses in both companies and triggered record losses. That focused minds at both companies and prompted the ‘leader-follower’ strategy whereby Nissan, Renault and to a lesser extent Mitsubishi took the lead in certain technologies or regions. For example, Renault was the lead in Europe, Nissan in China and Mitsubishi in South-East Asia.
Thursday’s presentation spelled out each brand’s leadership on technology development. Renault is in charge of the E/E architecture (for electric/electronic, meaning software and computing power), while Nissan leads in autonomous driving and solid-state batteries.
There was one important announcement: Renault will engineer and build a new Nissan Micra in Europe, based on what’s now called the CMF-BEV platform, developed from the small-car CMF-B ICE platform and also underpinning the new electric Renault 5.