French automaker Renault will slash its stake in Japanese partner Nissan as part of a deal rebalancing the rocky alliance between the two companies, the firms said Monday.
The deal will also see Nissan take a stake in Renault's new electric vehicle venture Ampere, though the size of the investment was not immediately announced.
The agreement is intended to"strengthen the ties of the alliance and maximise value creation", the statement issued simultaneously by both companies said. But concerns at Nissan about future technology transfers to the Chinese carmaker, as well as details over the sharing of electric vehicle intellectual property, complicated the negotiations.The agreement is expected to be signed next week following board approval from both sides.They were joined by Mitsubishi Motors in 2016, when Nissan took a 34 percent stake in its struggling Japanese rival.
Still, analysts have described the rebalancing of the deal as a way to build confidence between Nissan and Renault, particularly after the fallout from the Ghosn scandal.
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