A deal to restructure the Renault-Nissan alliance gives Nissan more ability to do what it wants but for the French automaker the benefits of the revamp are potentially quite limited.

The company said it had it achieved strong sales growth and had "effectively relieved the cost pressure brought about by the rising upstream raw material prices.

Arrival named insider Igor Torgov as its CEO. He joined the company from Russian retail tech firm ATOL in 2020.

Since the alliance began in 1999, Renault has received annual dividends from its share in Nissan, sometimes billions of dollars’ worth each year. That arrangement will continue even with 28 percent of Nissan held in a French trust.