Nissan Announces Renault-Based EV While Distancing Itself From Renault

Nissan and Renault’s relationship right now is, to say the least, complicated. Nissan is key to the complexity, as it’s struggling with maintaining profits, and it’s working on disentangling itself from its alliance partner. The latest joint announcement from the companies is a perfect little illustration of this. The companies have agreed to take more steps to separate by adjusting stock-holding requirements and investment obligations, but will also continue to collaborate in the near future. The noteworthy collaboration of this announcement being another Renault EV as a basis for a Nissan product, part of a large global product offensive.

A Twingo Twin

Nissan’s EV will be based on the upcoming Renault Twingo. So far, we’ve only seen the Twingo in concept form, though we’ll probably see the production one soon. Renault said the Twingo will go on sale next year, and so will Nissan’s version. The preliminary specifications sound impressive, with Renault claiming up to 200 mpg equivalent, plus a base price of around $21,000. The Renault version also packs adorable styling based on the first-generation Twingo of the 1990s.

The Nissan should share similar specifications, but will look a little different. We emphasize “little” as Nissan also revealed its new Micra EV for Europe. It’s also based on a Renault, the new 5, and the exterior mostly features a different front fascia with round daytime running lights. The rest of the body is very close to the Renault. We imagine that the Twingo-based Nissan will also bear a strong resemblance to its French cousin, barring some fascia tweaks.

More Steps To Separation

The other parts of the announcement have to do with Nissan and Renault becoming less close. Both companies will now be allowed to reduce their stakes in each other from 15% to 10%. Allowing the companies to hold less stock could let them sell off some for a bit of extra cash. This seems like a win-win situation for Nissan, as it’s looking to free up shares from Renault, as well as giving Nissan an avenue for fundraising. Furthermore, Nissan’s obligations to invest in the Ampere EV start-up company have been dropped, which will should free up some of the Japanese automaker’s funds. Renault is also buying out Nissan’s portion of the company’s joint manufacturing facilities in India, another potential source of short-term cash. In the short term, the Indian facilities will still continue with joint Renault-Nissan projects.