French carmaker Renault and its Japanese partner Nissan Motor aim to formally unveil a deal to reshape their alliance in London in February. 6, two sources close to the matter told Reuters on Thursday.
Leaders of the two companies met via video link for an alliance board meeting on Thursday after months of intense talks on ways to reshape their long-standing partnership. They chose this format – rather than having Renault CEO Luca DiMeo and chairman Jean-Dominic Senard travel to Japan – because talks are progressing well, sources previously told Reuters. .
A third source close to the matter said Thursday’s meeting went “without a hitch” but there were details that still needed to be worked out.
“As of today, we cannot say that we have reached an agreement,” said the source, who spoke on condition of anonymity because the talks are confidential.
The sources added that there were no major differences between the two companies and that talks were unlikely to break down. But he also said that Feb. 6 The date for the announcement was not yet written in stone.
The boards of both companies would still need to individually approve a potential deal after Thursday’s meeting.
Renault is looking for the Japanese carmaker to invest in its new electric vehicle business, while Nissan wants its biggest shareholder Renault to sell its roughly 43 percent stake and further equalize the 23-year-old alliance. Based on
Renault has consistently declined to comment publicly on talks with its Japanese partner, while a Nissan spokesman declined to comment on Thursday.