Nissan, Renault near 'historic' rebalancing of alliance: source

Nissan is likely to invest in Renault's new electric vehicle business as the pair reshape their allianceTOKYO - Nissan and Renault are nearing a"historic" rebalancing of their auto alliance, with a deal likely to be announced in the coming weeks, a source close to the talks said Tuesday.

The source, speaking on condition of anonymity, said Nissan's independent directors had"given their green light" to a deal, paving the way for a"historic" agreement. Renault is expected to reduce its stake in Nissan to 15 percent, matching the size of the Japanese firm's stake in its French partner.

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