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Renault SA (OTCPK:RNSDF) and Nissan (OTCPK:NSANY) confirmed the two automakers are in talks to decide the future of their longstanding alliance on Monday.
“Renault Group and Nissan Motor Co are currently engaged in trustful discussions around several initiatives as part of continued efforts to reinforce the cooperation and the future of the Alliance,” the company said in a joint statement.
The “trustful discussions” include deliberation on plans for Nissan to invest in Renault’s EV entity, common technology initiatives, and changes to the “operations and governance” of the alliance. Last week, The Wall Street Journal reported that Nissan Motor (OTCPK:NSANY) was asking Renault SA (OTCPK:RNSDF) to sell down a portion of its stake in the Japanese automaker.
Paris-listed shares of Renault rose sharply during the European trading day.
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