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Nissan's president said the Japanese automaker should "make peace" with Renault after the quarrel that threatened to tear the 20-year alliance between the two companies.
Hiroto Saikawa told the Financial Times in an interview Monday that the partners should "stabilize and strengthen" their alliance. "It's something we have to do," he said. "It's the most important thing."
The future of the alliance was questioned after the arrest last year of Carlos Ghosn, then president of Nissan and general manager of Renault. Relations between automakers became more difficult last month after Renault and the Italian company FCA initiated unsuccessful merger talks.
Tensions increased again on Sunday when the FT announced that Renault was blocking the Japanese automaker's proposed governance reforms, which would convert Nissan into a three-party system favored by advocates of strengthening corporate governance.
Jean-Dominique Senard, President of Renault, wrote to Mr. Saikawa to tell him that as a Nissan shareholder at 43%, Renault had decided to abstain in a vote, thus refusing the proposal the two-thirds majority required for adoption.
The letter, Saikawa said, had surprised during a "very difficult process" and had sparked an incessant effort to convince the French side to change their minds. Mr. Saikawa emphasized that governance change is something Nissan "can not miss".
Although Renault's letter offered no room for negotiation, Mr. Saikawa seemed to think it was the beginning of a new power game between the two companies, saying he would try to convince the main shareholder of Nissan to support "at any cost" the change of governance. Mr. Senard's relatives also pointed out that this letter marked the beginning of a negotiation.
Renault's governance is taking hold as people close to French and Japanese car manufacturers have noted a "marked deterioration" in the day-to-day running and cooperation of the alliance.
Mr. Saikawa added that the recent problems had affected the staff of the group. The Nissan chief, who was chosen by hand by Ghosn, said the alliance should not allow its value to be destroyed by the "unfortunate incident" of the arrest of his mentor last November.
Mr. Saikawa stated that the alliance was not just a cross-shareholder or board of directors exchange structure, but a "cradle" for co-operation and value creation. "I am absolutely convinced that we must find a solution, and we will do it," he said.
Nissan has bargaining power, Renault, which declined to comment, remains keen to merge with FCA. People close to the French manufacturer said that the logic of the agreement had not changed. However, these same people pointed out that no formal discussion with FCA had been resumed.
The French Finance Minister, Bruno Le Maire, has repeatedly resigned from the G20 finance minister who took him to Japan this weekend to try to calm the tumult that has occurred since the fall of the agreement. FCA withdrew its proposal after the French state, Renault's largest shareholder with a 15% stake, asked for more time.
The Mayor began his visit by declaring that France was ready to reduce its stake in Renault in the interest of the consolidation of the alliance. This olive branch could, according to people close to the state and the French manufacturer, win the support of Nissan for an agreement with FCA, if such an agreement materialized again.
Following a meeting with his counterpart, Hiroshige Seko, the two ministers said Monday in a joint statement that they wanted to "maintain and strengthen" the alliance.
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