Renault faces shareholders

Renault has for years tied its strategy to a partnership with Japan’s Nissan but the alliance has come under unprecedented strain following the shock arrest and ouster of Carlos Ghosn, which has cost shareholders dearly.

Since the arrest in November of Mr Ghosn, who built up the alliance with Nissan and Mitsubishi into the world’s top-selling auto company, shares in Renault have fallen to their lowest levels of around 55 euros ($62).

The collapse of last week’s proposed merger with Fiat Chrysler has dealt Renault a further blow.

The crisis comes as carmakers across the globe grapple with a shift to electric and hybrid vehicles, with the industry spending billions to develop cleaner technologies – without any guaranteed returns.

Some shareholders have pointed the finger at Renault’s board for not exercising enough oversight over Mr Ghosn, who is awaiting trial in Japan on charges of financial misconduct at Nissan.

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