Renault Slashes Nissan Stake as Part of Broader Partnership Restructuring Plans

Renault Metaverse AspirationsLast September, Renault partnered with Web3 mainstay The Sandbox to offer metaverse-inspired automotive services. Under this collaboration, users in the metaverse could experience vehicles in the virtual space. In addition, the Renault-Sandbox venture focused on virtual reality, gaming, non-fungible tokens (NFTs), and the blockchain.
Weighing in on the initiative at the time, Renault Korea chief executive officer Stephane Deblaise said:


“The new digital journey that our company is preparing is intended to provide clients with an expanded brand experience and familiarize them with the brand.


Cindy Lee, CEO of The Sandbox Korea, also commented on the alliance with Renault. Describing the joint venture as providing innovative experiences that marry vehicles with digital assets, Lee also added at the time:


“This partnership is an excellent example of a collaboration The Sandbox can develop without any industrial boundaries.”


Google tiesRenault also consolidated its partnership ties with Google (NASDAQ: GOOGL) a month after The Sandbox collaborative development. Last November, both platforms explained that the enhanced partnership would design and deliver the “Software Defined Vehicle” SDV digital framework. This framework poses a new frontier of auto cars with functionalities totally hinged on software.
Meanwhile, Nissan remains on course to achieve electrification in its line of vehicles.

Full story here