PARIS/TOKYO (Agefi-Dow Jones)–Nissan is pressuring its French partner Renault to sell part of its stake in the Japanese automaker, as part of a broad negotiation aimed at revamping its alliance with the French automaker, more than two decades old, according to people familiar with the matter.
Executives from Renault and Nissan have shuttled between Japan and France to hammer out details of the plan, with the aim of announcing a deal as early as November, the sources say.
Nissan executives, including Deputy Chief Executive Ashwani Gupta, visited France late last month and discussed the possibility of the Japanese automaker investing in Renault’s new electric vehicle business, it said. the sources.
Renault is preparing to create two separate divisions within the company to manage the eventual abandonment of thermal vehicles: one that would focus on electric vehicles and software and another for its traditional combustion engine and engine business. hybrids.
Renault plans to own at least 51% of the new electric vehicle entity in which Nissan will also hold a stake if the Japanese manufacturer ultimately chooses to take part.
In return for participating in the project, Nissan is making a number of demands, the sources say. One is for Renault to sell at least part of its 43% stake in the Japanese automaker, a longtime goal for Nissan.
The Financial Times had reported some details of these discussions on Friday.
-Nick Kostov, River Davis and Sean McLain, The Wall Street Journal
(French version Pierre-Jean Lepagnot) ed: ECH
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October 07, 2022 12:49 ET (16:49 GMT)