Renault-Nissan alliance (1999)
Renault took a 36.8% stake in Nissan, which was near bankruptcy. Nissan later acquired a 15% stake in Renault, creating a cross-shareholding that aligned the two rivals without a full merger.
Nissan was rescued and returned to profitability within a few years.
The Renault-Nissan-Mitsubishi alliance became one of the world's largest auto groups, though tensions over control persisted.
Cross-investment between automakers is a proven way to align interests without merging. NIO and Geely are using the same structure to integrate their energy businesses while keeping brands independent.
