1/17, 11:53 PM (Source: TeleTrader)
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Nissan, Renault make progress in reshaping alliance talks

Nissan Motor Co. Ltd. and Renault S.A.'s discussions over restructuring their partnership are expected to advance after months of deadlock, Nikkei Asian Review reported, citing sources.

The compromise likely reached between the two companies is set to limit how Renault's new electric vehicles unit uses shared intellectual property. The proposal was made by the French carmaker and was reportedly met with positive reactions from both sides, who described the move as a "big step forward."

On Monday, Nissan management also reportedly informed its directors that French Economy, Finance and Recovery Minister Bruno Le Maire said the government in Paris would not object to Renault reducing its stake in Nissan.

Baha Breaking News (BBN) / NL