PARIS (Reuters) – Mitsubishi Motors announced on Monday a partnership in France with a subsidiary of Renault to in turn use the services and automotive financing solutions of this entity, a new illustration of the levers that the Franco-Japanese alliance intends to exploit since its restructuring unveiled a month earlier.

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On February 6, Renault and Nissan presented a lighter version of their more than twenty-year-old alliance in order to gain flexibility and stay in the race for electrification.

The French group, which has multiplied partnerships with external third parties for the past year, will in this context reduce its stake in its Japanese partner, while continuing to focus on the synergies offered with Nissan but also Mitsubishi, the third partner of the alliance.

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“This agreement is a new step in the development of synergies within the Renault-Nissan-Mitsubishi Alliance,” said Patrick Gourvennec, president of Mitsubishi Motors in France, quoted in a press release.

It accompanies “the growth strategy that Mitsubishi Motors has set for itself in France”, he added.

Concretely, the buyer of a Mitsubishi vehicle who wants a financing solution for his purchase will sign his contract with Mobilize as of next month. The new agreement covers private individuals and professional long-term rental companies, whereas until now Mitsubishi had two different providers.

“With this partnership, Mobilize Financial Services now finances all brands of the Renault-Nissan-Mitsubishi Alliance in France,” said Thibault Paland, CEO of the subsidiary.

(Gilles Guillaume, edited by Tangi Salaün)

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