Renault, Nissan Near Landmark Deal to Reshape Alliance
- Carmakers aiming to announce agreement in mid-November
- Nissan would back Renault’s EV business with $750 million
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Renault SA is in the final stages of concluding a deal this week to reduce its stake in Japanese partner Nissan Motor Co. and reshape their two-decades-old alliance, a person familiar with the negotiations said.
The pact would allow the French carmaker to proceed with a planned carve-out of its electric-vehicle business. Both sides are set to sign a non-binding agreement after details were largely finalized late last week, said the person, who asked not to be identified because the plans aren’t public.