Renault, Nissan say alliance is not headed for breakup

Renault and Nissan denied media reports of a potential break-up that sent their shares skidding to multiyear lows.

The automakers said their alliance, which was shaken even further by the dramatic escape of former chairman Carlos Ghosn from trial in Japan, was in no danger of being dissolved.

“The alliance is the source of Nissan’s competitiveness,” Nissan said in a statement Tuesday, pushing back against reports that its executives have looked at the possibility of breaking with the global carmaking partnership.

“Through the alliance, to achieve sustainable and profitable growth, Nissan will look to continue delivering win-win results for all member companies,” the statement said.