Renault and Nissan have signed a deal aimed at easing long-standing tensions between the two companies, allowing them to move forward at a time of unparalleled challenges for the automotive industry.
As part of the hard-won pact, Renault will cut its holding in Nissan to 15% from 43% to re-balance lopsided capital ties, the partners said Monday, resolving a cause of friction that slowed cooperation at a crucial time for carmakers globally. The agreement also includes joint development of several new models globally.
Nissan intends to invest in Renault’s electric vehicle business Ampere for as much as a 15% stake in the entity that’s being separated from Renault’s combustion-engine and powertrain operations. Alliance junior partner Mitsubishi Motors will also weigh investing in Ampere.