TOKYO – 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 comes after months of painstaking negotiations, and repeated delays, as the two firms sought to reset their decades-old alliance after years of tensions.
The automakers called Monday’s announcement “an important milestone” in “discussions on defining new foundations for their partnership”.
The agreement is intended to “strengthen the ties of the…
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