Nissan mulls taking up to 15% stake in Renault’s planned EV unit – report

Nissan mulls taking up to 15% stake in Renault's planned EV unit - report
© Reuters. FILE PHOTO: The Nissan logo is seen at Nissan car plant in Sunderland, Britain February 4, 2019. REUTERS/Phil Noble

TOKYO (Reuters) – Japan’s Nissan (OTC:NSANY) Motor Co is considering investing up to a 15% stake in Renault SA (OTC:RNLSY)’s planned electric vehicle (EV) unit, Kyodo news agency reported on Thursday, as the two companies negotiate an overhaul of their decades-old partnership.

The Japanese and French automakers said this month they were in talks about the future of their alliance, including Nissan potentially investing in the electric vehicle business being spun out of Renault (EPA:RENA).

No further details were immediately available.

Nissan said it had no comment to make beyond a joint statement issued by the two firms earlier this month, in which they said they were engaged in discussions on a number of issues, including the EV unit.

Source: Reuters