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Nissan, Renault agree to sweeping overhaul of global alliance

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Nissan Motor Co and Renault SA agreed on Monday to a sweeping restructure of their two-decade-old automaking alliance that will put them on equal footing and see the Japanese company invest in Renault's new electric vehicle business.

agreed on Monday to a sweeping restructure of their two-decade-old automaking alliance that will put them on equal footing and see the Japanese company invest in Renault's new electric vehicle business.

Under the deal, which is still subject to board approvals, Renault will reduce its stake in Nissan to 15% from around 43%, transferring the 28% stake in the Japanese automaker to a French trust, Renault said.

 

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