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The Guardian - UK

Business

Mark Sweney

Nissan to take stake in Renault electric vehicle unit to repair alliance

Nissan Renault electric vehicle Ampere

Renault 5 Prototype electric compact concept car — Renault 5 Prototype electric compact concept car. The carmaker’s Ampere electric car unit is being prepared for a potential stock market flotation. Photograph: Sjoerd van der Wal/Getty Images

Nissan is to take a stake of up to 15% in Renault’s flagship electric vehicle unit as part of a new long-term deal designed to repair relations in the troubled 24-year alliance between the two global automotive makers.

The 15-year agreement includes seeking savings from joint projects in Europe, India and Latin America, as well as working together on electronics and battery technology.

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Top stories on inkl right now

Social Security recipients to get 3.6% cost of living boost, an average of $75 per month

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One subscription that gives you access to news from hundreds of sites

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