10/7/2022, 7:07 PM (Source: TeleTrader)
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Nissan, Renault talking restructuring alliance - reports

Nissan Motor Co. Ltd. and Renault S.A. are discussing a potential restructuring of their partnership, unnamed sources told The Wall Street Journal and the Financial Times on Friday.

The Japanese carmaker is allegedly trying to convince its French ally to partially sell its 43% stake in Nissan and drop it to 15%. On the other hand, Renault will be separating its traditional combustion engine and hybrid car business from its new electric vehicle division. According to the reports, the French auto producer wants to hold 51% of the EV unit, while Nissan could also take part and acquire a stake. Renault would also want Nissan to agree to its plan to sell part of its combustion engine business to Zhejiang Geely Holding Group Co. Ltd. (Geely).

Renault CEO Luca de Meo and his Nissan counterpart Makoto Uchida will be negotiating over the weekend in Tokyo, with possible deals between the companies coming as soon as next month, the media outlets also said in separate reports.

Baha Breaking News (BBN) / MS