new electric vehicle unit, the automakers said on Wednesday, as they finalised terms of their revamped alliance after months of talks clouded by tension.
The agreement also frees Nissan up to focus on what is arguably a more pressing problem: the increasingly grim outlook for foreign automakers in China, the world's biggest car market. Nissan committed to invest up to 600 million euros in its partner's electric vehicle unit, Ampere. Renault, meanwhile, will lower its stake in Nissan to 15% from around 43%, putting their relationship on equal footing.
Questioned on how many members the board will have, a Renault spokesperson replied it had not yet been fully decided.
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