Nissan, Renault confident of finalising alliance deal soon

JAPANESE automaker Nissan and France’s Renault are confident the agreements on reshaping their alliance will be signed soon, they both said on Friday (Mar 31).

They were responding to a report by Japanese news agency Jiji which said the final contract to reboot their alliance may be delayed until April or later due to extended discussion on intellectual property, including for electric vehicles.

“The two companies are currently working well together towards the signature of all the definitive agreements. They are confident this will be reached shortly,” Nissan said, a comment echoed in a statement by Renault. Neither gave a date.

After months of intense talks, they agreed in January on a sweeping remake of their two-decade-old alliance that will see Renault reduce its stake in Nissan to 15 per cent from about 43 per cent to put them on equal footing.

The partnership, which has grown to include junior member Mitsubishi Motors, was founded in 1999.

Nissan and Renault also announced in February that the Japanese automaker would buy a stake of up to 15 per cent in Renault’s electric vehicle (EV) unit Ampere. REUTERS