Our joint projects in Europe, Latin America and India will strengthen our partnership and generate hundreds of millions of euros in value for each partner while being mutually beneficial in the field of innovation. Luca de Meo, CEO, Renault Group said: “We are now effectively entering this new era of the Alliance with a pragmatic and business-oriented approach. We are convinced of the future prospects that will flow from our rebalanced partnership with Renault Group.

Makoto Uchida, President and CEO, Nissan Motor Co said: “Based on this equal footing, Nissan will continue to harness our core competencies and be more agile to explore further growth opportunities that support our business strategy, especially through initiatives aligned to Nissan’s Ambition 2030 and electrification strategy, while continuing to generate greater value for the wider Alliance. This is a very important step for Renault Group, Nissan and Mitsubishi Motors, and lays the foundations for a new fair, long-standing and effective partnership that will create value for each Alliance member and for all our stakeholders.” Jean-Dominique Senard, Chairman of the Alliance said: “We are delighted to announce today the effectiveness of the New Alliance agreement signed on at the end of July 2023. The Alliance will continue to identify key projects across markets that aim to deliver win-win, large-scale and actionable benefits. This next chapter of the Alliance will build on the foundations of the long-standing partnership and will maximise value creation for each Alliance member and lays the foundations for a new balanced, fair, and effective governance. No impairment will be recorded in Renault Group’s financial statements as a result of the transfer by Renault Group of Nissan shares into the trust. Robust performance at Royal Enfield and VECV power Eicher Motors record quarterly net profit of Rs 1,087 crore in Q2 FY2024

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