TOKYO: Nissan and Renault are on the brink of unveiling their restructured alliance, media quoted sources familiar with the matter.
After a lengthy and occasionally tense negotiation period spanning 10 months, the deal has finally been finalized.
Nissan has been diligently working to establish a more reasonable threshold for its strategic investment in Renault’s electric vehicle unit, known as Ampere. Previously, the company had set a maximum target of 15% in February. However, insiders reveal that Nissan is now aiming to invest below this threshold, potentially acquiring a stake of less than 10% in the newly formed unit, according to local media.
In February, both automakers announced a preliminary framework agreement with the intention of concluding the deal as early as March. This initial timeline, however, experienced delays due to objections raised by senior Nissan executives and some directors. These objections primarily centred around the detailed provisions of the agreement and concerns regarding the protection of Nissan’s intellectual property.
Sources anticipate an official announcement from Nissan and Renault in the coming days as the finalization of the agreement draws near. As this information is not yet public, all individuals familiar with the matter have chosen to remain anonymous.
When approached for comment, Nissan provided a brief statement acknowledging the ongoing negotiations and expressing a commitment to providing updates once the agreements are fully concluded. On the other hand, Renault declined to offer any comment at this stage.
