Renault and Nissan said on Monday they were in talks about the future of their alliance, including the Japanese automaker considering investing in a new electric vehicle venture by its French partner, Trend reports citing Reuters.
The talks, which could prompt the biggest reset in the alliance since the 2018 arrest of longtime executive Carlos Ghosn, have included consideration of Renault selling some of its Nissan stake, two people with knowledge of them said.
Negotiations are expected to continue ahead of a Renault investor presentation in early November, when the French carmaker is expected to give an update on its new EV unit, which is code-named "Ampere".
Renault owns about 43% of Nissan, which in turn has a 15% stake in its long-term partner, in which the French state also has a 15% holding.
Shares in Renault rose by as much as 6% in early trading, making the stock the best performer on France's benchmark CAC-40 equity index (.FCHI). They were up 3.54% by 1105 GMT.
Renault and Nissan said in a joint statement that they were "engaged in trustful discussions around several initiatives" including a potential Nissan investment in the EV venture and what they called "structural improvements" in their alliance.
Renault CEO Luca De Meo, who was in Japan over the weekend, and Nissan CEO Makoto Uchida have been central to talks about reshaping its terms, a person familiar with the talks said.
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A group of Nissan executives, including Chief Operating Officer
Ashwani Gupta, have also been involved in developing discussions in
recent months, the person said.