renault
The Renault Group, the French auto manufacturer, said on Wednesday that its CMA CGM Group had purchased a 10% joint venture stake in Flexis SAS, making it a founding member. The joint venture for the next generation of electric vans was founded on March 22 by Renault and the Volvo Group, holding each a 45% stake. Both companies plan to invest €300 million ($323 million) each over the next three years. CMA CGM, through PULSE, its energy fund, acquired the stake in Flexis and has confirmed its interest for a strategic investment up to €120 million by 2026. Flexis SAS will be based in France, and...
DPA International
The Renault group sold sold 99.13 million shares back to Nissan following a share buyback program announced by Nissan on March 27. The shares represent about 2.5% of Nissan's capital amounting to €358 million ($387 million). The Renault Group has the option to sell the rest of 181.56 million Nissan shares not already bought back by Nissan within 180 days.
DPA International
Japanese carmaker Nissan Motor Co Ltd has announced a multibillion-yen plan to buy back its own shares from French carmaker Renault SA. Nissan Motor Co Ltd on Wednesday announced that it will acquire its own shares worth 59.484 billion yen ($0.393 billion) from Renault SA on March 28. Nissan has received a notice from Renault offering to sell 280,690,000 Nissan shares held in a French trust, and has decided to acquire 100,242,900 shares. Renault has the option to sell the rest of the offered shares deducting the number of Nissan shares sold. The transaction will be funded using Nissan's net ca...
DPA International
A zero-emission Renault 5 is the latest electric re-imagining of an original petrol car to emerge and the update of the classic formally broke cover on Monday at the Geneva Car Show. The new five-door R5 features a 100kW (136 horsepower) electric motor and a battery range of up to 400 km per charge. Drivers will be able to power electrical devices with the battery when the car is parked. Compared to the original Renault 5, the R5 E-Tech sports gets a rugged, chunkier look and LEDs illuminate the bonnet nameplate and other accents on the front end. With a base price of around €25,000, the littl...
DPA International
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