Nissan Looks For Tech Partnership Without Renault: Report

Nissan Motor Co Ltd NSANY is reportedly devising software and electric vehicles (EVs) growth plans without Renault SA RNLSY in the picture.
The decision comes as the two companies' workout the terms of their alliance.
Nissan is scouting for a partnership that will enable software development to connect its vehicles to cloud-based services, reported Reuters.
The company is also working on a plan for battery and plug-in EVS for the Asian and North American markets.
The report further noted that rebalance of the alliance will see Renault cut its stake in Nissan to 15% from 43%.
The deal, which is expected to be finalized by mid-2023, will also see Nissan investing in the French automaker's EV business Ampere.
Nissan executives had alleged that Renault did not pay the fair share of costs covered for development and innovation.
"Even if Renault gets something from Nissan, benefits moving in the other direction are hard," the report quoted a person with knowledge of the matter.
Price Action: NSANY shares closed lower by 1.05% at $7.51 on Thursday.