PARIS : A deal between French carmaker Renault and Japanese partner Nissan could be announced as early as Feb. 1 as months of negotiations on how to reshape their alliance progress, a source familiar with the matter said on Thursday.
The two automakers had readied plans to announce a restructured tie-up last month but failed to reach terms. They have been in intensive negotiations since October, when Renault CEO Luca de Meo went to Japan to meet Nissan CEO Makoto Uchida. Renault is looking for Nissan to invest in an electric-vehicle business it will carve out of its operations, while Nissan wants Renault to sell most its roughly 43 per cent stake in Nissan to put the 23-year alliance on a more equal footing.
Renault provided proposals intended to address those concerns, which were given the green-light by a Nissan board committee on Monday, Reuters has reported.
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