Renault, Nissan aim to announce deal on reshaped alliance on Feb 6

Renault, Nissan aim to announce deal on reshaped alliance on Feb 6

French car maker Renault and its Japanese partner Nissan Motor aim to formally unveil a deal to reshape their alliance in London on Feb. 6, two sources close to the matter told Reuters on Thursday.

Leaders of the two companies met via video link for an alliance board meeting on Thursday following months of intense negotiations over how to reset their long-running partnership. They opted for that format – rather than having Renault CEO Luca de Meo and Chairman Jean-Dominique Senard travel to Japan – because the talks have been progressing well, sources had previously told Reuters.

A third source close to the matter said Thursday’s meeting had gone off “without a hitch” but there were details that still needed to be worked out.

“As of today, we cannot say that we have reached an agreement,” the source, who spoke on condition of anonymity because the talks are confidential, said.

The source added there was no major gap between the two companies and that the negotiations were unlikely to break down. But he also said that the Feb. 6 date for an announcement was not written in stone yet.

The boards of the two companies would still need to individually approve a potential deal after Thursday’s meeting.

Renault is looking for the Japanese automaker to invest in its new electric-vehicle business while Nissan wants Renault, its top shareholder, to sell down its roughly 43% stake and put the 23-year alliance on a more equal footing.

Renault has consistently declined to comment publicly about the talks with its Japanese partner, while a spokesperson for Nissan declined to comment on Thursday.


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