Renault will buy Nissan's 51 percent share in its Indian auto manufacturing division.

According to news agency Reuters, the Renault Group declared on Monday, March 31, that it intends to purchase the remaining 51% of Renault Nissan Automotive India Private Ltd, which is owned by the Japanese carmaker.Nissan controls 51% of the Chennai-based subsidiary Renault Nissan Automotive India Private Ltd, which began operations in 2010, according to the news report.At the beginning, the Japanese automaker owned 70% of the company, with the Paris-based Renault holding 30% as well. As part of the agreement to invest $600 million to manufacture six automobile models in India, Nissan's stake decreased from 70% to 51% in 2023.According to the agency report, Renault and Nissan also declared on Monday that they had reached an agreement to modify their long-standing relationship by allowing the decrease of their cross-shareholdings to 10% from the previous 15% levels.

In the official statement referenced in the story, Renault CEO Luca de Meo stated, "As Nissan's primary shareholder and a longstanding partner within the alliance, Renault Group has a strong interest in seeing Nissan turn around its performance as quickly as possible."Nissan will no longer be bound by the agreement's revised terms to invest in Renault's electric vehicle (EV) division, Ampere. At first, the business intended to invest 600 million euros in the EV project.