Nissan has issued a statement to downplay suggestions that it could be readying for a possible split with Renault that would effectively end their industrial alliance.

The statement said: "Contrary to the assertions in the articles, Nissan is in no way considering dissolving the Alliance."

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It went on to say that Nissan, Renault and Mitsubishi Motors set up the Alliance Operating Board (AOB) in March 2019 as a foundation for continuous enhancement and underpinning for future success.

The AOB, Nissan said, which holds meetings on a monthly basis, has since been the sole body overseeing the operations and governance in the Alliance.

In November last year, Nissan said the AOB members all agreed on programs to significantly enhance and accelerate the operational efficiency of the Alliance for the benefit of the member companies, including action plans to maximise the contribution of the Alliance to each company's strategic plans and operating profit.

The statement also noted that the Alliance is "the source of Nissan's competitiveness. Through the Alliance, to achieve sustainable and profitable growth, Nissan will look to continue delivering win-win results for all member companies."

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The Alliance has delivered substantial benefits to its participants over many years in engineering savings, supply-chain leverage and scale economies. Annual cost savings are in excess of EUR5bn, with EUR10bn a year targeted, helped by the 2017 addition of Mitsubishi to the club.

Tensions between Renault and Nissan have risen since the arrest in Japan of ex-Nissan chairman Carlos Ghosn in 2018 on charges of financial misconduct. He has maintained that the arrest was politically motivated by opponents within Nissan of plans to further integrate Renault and Nissan. 

See also: Nissan executives step up planning in case of Renault split