Nissan, Renault may announce new alliance deal in days: Report

Nissan and Renault are reportedly set to make an announcement in the coming days regarding their restructured alliance, as the deal has been finalized after 10 months of occasionally tense negotiations.

Nissan has been working on establishing a lower threshold for its strategic investment in Renault's electric vehicle unit, Ampere. Previously, they had announced a maximum target of 15% in February. However, Nissan now aims to invest less than 10% in the new unit, pending the valuation of Ampere.

Back in February, the automakers unveiled a framework agreement, with plans to finalize the deal by March. This timeline was delayed when some senior Nissan executives and directors raised concerns about the specific provisions of the deal, particularly regarding the protection of Nissan's intellectual property.

According to three individuals familiar with the matter, an official announcement is expected to be made in the coming days. The sources requested anonymity as the information is not yet public.

Nissan released a statement acknowledging ongoing negotiations and expressing their intention to make a statement when the agreements are concluded. On the other hand, Renault declined to comment, but they previously stated their intention to list Ampere through an initial public offering in the first half of 2024.

In other news, Nissan's board has been investigating allegations that Chief Executive Makoto Uchida conducted surveillance on his former deputy, Ashwani Gupta, with the intention of obtaining leverage to remove him from the company. Gupta had expressed opposition to certain terms of the new partnership with Renault. Gupta, who held the position of Chief Operating Officer and was seen as a potential future CEO of Nissan, departed the company at the end of June.

Preliminary findings of the investigation into the surveillance claim were presented to Nissan's board in June, revealing that a camera had been installed outside Gupta's residence for monitoring purposes, according to sources familiar with the presentation. However, the board has yet to receive the final report on the surveillance allegations.

(With inputs from Reuters)