Oct 7 (Reuters) – Nissan Motor Co Ltd (7201.T) is urgent companion Renault SA (RENA.PA) to chop its stake within the Japanese automaker and revamp their greater than 20-year-old alliance, the Wall Road Journal mentioned on Friday, citing individuals with data of the talks.
French automobile agency Renault owns about 43% of Nissan, whereas the Japanese agency owns 15% of its prime shareholder, however with out voting rights.
In June, Nissan revealed for the primary time some particulars of its alliance pact with prime shareholder Renault that preserve the latter from unilaterally growing its stake past 44.4%.
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Their talks cowl the query of whether or not Nissan will be part of Renault’s new unit being set as much as home its electrical automobile (EV) property in trade for its French ally winding down the Nissan stake, the paper mentioned.
Nissan’s Chief Working Officer Ashwani Gupta was among the many agency’s executives who visited France final month and mentioned whether or not the Japanese automobile maker would spend money on Renault’s new EV enterprise, the paper added.
Renault is pushing forward with plans to separate its EV and combustion engine companies in a bid to meet up with rivals similar to Tesla (TSLA.O) and Volkswagen (VOWG_p.DE) within the race to cleaner driving.
It expects to unveil an in depth blueprint for the brand new EV entity this autumn.
Renault declined to touch upon the report, whereas Nissan didn’t instantly reply to Reuters’ request for remark exterior regular working hours.
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Reporting by Rhea Binoy in Bengaluru; Modifying by Clarence Fernandez
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