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Renault and Nissan forgo Wednesday announcement of alliance deal - sources

Stock Markets Dec 03, 2022 06:25AM ET
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© Reuters. FILE PHOTO: The logos of car manufacturers Nissan and Renault are pictured at a dealership Kyiv, Ukraine June 25, 2020. REUTERS/Valentyn Ogirenko/File Photo
 
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By Maki Shiraki and Norihiko Shirouzu

TOKYO (Reuters) -Renault SA and Nissan (OTC:NSANY) Motor Co are set to forgo a Wednesday announcement of a deal to restructure their automotive alliance as they struggle to bridge their differences, three people familiar with the matter said.

In their discussions, Renault (EPA:RENA) is looking to Nissan to invest in its electric vehicle business, while Nissan is seeking the sale of part of Renault's 43% stake in Nissan to put the two partners on a more equal footing.

The French and Japanese carmakers remained apart on how to share intellectual property, the people, who declined to be named, said.

Renault and Nissan declined to comment.

Japanese television network JNN first reported the news on Friday night.

The companies have been aiming to announce the new alliance structure as early as this month, Reuters reported this week.

If more time is needed in negotiations, the companies could opt to meet a week later from Dec.7 and are planning to be ready for an announcement the following week in London, sources told Reuters.

The question of how to share technology and intellectual property has proved to be a sticking point in the talks.

Renault and Nissan forgo Wednesday announcement of alliance deal - sources
 

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Ricardo Neves
Ricardo Neves Dec 03, 2022 8:00AM ET
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