Renault and Nissan said they were in talks about reshaping their alliance. The companies said that they were 'engaged in trustful discussions around several initiatives' including a potential Nissan investment in Renault's future electric vehicle unit
said on Monday they were in talks about the future of their alliance, including the Japanese automaker considering investing in a new electric vehicle venture by its French partner.
Shares in Renault rose by as much as 6% in early trading, making the stock the best performer on France's benchmark CAC-40 equity indexRenault and Nissan said in a joint statement that they were "engaged in trustful discussions around several initiatives" including a potential Nissan investment in the EV venture and what they called "structural improvements" in their alliance.
Renault is looking to win Nissan as an investor in its new EV venture, which it is setting up alongside a separate combustion engine unit, essentially splitting out the higher-growth and investment-hungry portion of its auto business.in the Japanese automaker, a person familiar with the talks said. For Nissan, the talks could represent a chance to reset a structure that many executives at the Japanese firm have seen as unbalanced, given the way vehicle development work between the two carmakers has progressed in recent years.Renault and Nissan declined comment beyond their statement.
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