Nissan, Renault confident of finalising alliance deal soon
Reuters
Published Mar 31, 2023 10:48AM ET
Updated Mar 31, 2023 11:31AM ET
TOKYO (Reuters) -Japanese automaker Nissan (OTC:NSANY) and France's Renault (EPA:RENA) are confident the agreements on reshaping their alliance will be signed soon, they both said on Friday.
They were responding to a report by Japanese news agency Jiji which said the final contract to reboot their alliance may be delayed until April or later due to extended discussion on intellectual property, including for electric vehicles.
"The two companies are currently working well together towards the signature of all the definitive agreements. They are confident this will be reached shortly," Nissan said, a comment echoed in a statement by Renault. Neither gave a date.
After months of intense talks, they agreed in January on a sweeping remake of their two-decade-old alliance that will see Renault reduce its stake in Nissan to 15% from about 43% to put them on equal footing.
The partnership, which has grown to include junior member Mitsubishi Motors (OTC:MMTOF), was founded in 1999.
Nissan and Renault also announced in February that the Japanese automaker would buy a stake of up to 15% in Renault's electric vehicle (EV) unit Ampere.
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Written By: Reuters
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