A proposal is being floated atop Nissan Motor Co. for the company to revive efforts to push Renault SA to reduce its stake in the Japanese carmaker and help balance the partnership, a person familiar with the matter said.

The plan would involve both companies cutting their cross-shareholdings and would call for the carmakers to use the funds for joint technology investments that could bolster their alliance, the person said, asking not to be identified discussing confidential matters. It’s still early days for the proposal and details such as the timing of any stake sale are undecided, the person said.

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