Nissan, Renault To Announce New Alliance Soon: Report

Nissan Motor Co Ltd NSANY and Renault SA RNLSY are reportedly expected to make an announcement about their restructured alliance and a final deal in the coming days.

In February, both automakers announced a framework agreement and said they aimed to finalize the negotiations in early March.

Under the agreement, Nissan is expected to take 15% of Renault's new electric vehicle unit, Ampere, and Renault would slash its 43% stake in Nissan.

The proposed dateline was extended after Nissan executives opposed some provisions of the deal and wanted better protection for Nissan's intellectual property, reported Reuters.

Also Read: Nissan Reveals Executive Committee Changes To Accelerate NEXT Progress

The report specified that Nissan is also working to lower its strategic investment in Ampere, below the maximum threshold of 15% it announced in February.

"Nissan and Renault are engaged in constructive and ongoing negotiations. We will make a statement in due course when the agreements are concluded," the report quoted the Japanese company.

Talks have also been delayed as Nissan's board has been dealing with the alleged surveillance carried out by CEO Makoto Uchida on his then-deputy Ashwani Gupta.

Related: Shareholders Back Nissan Leadership Despite Surveillance Controversy and Renault Deal Strains

Price Action: NSANY shares closed lower by 2.11% at $8.21 on Tuesday.