NSANF - Renault and Nissan near deal for alliance reset - Reuters

A Nissan Motor ( OTCPK:NSANY ) committee has endorsed a plan to reconfigure its alliance with Renault SA ( OTCPK:RNLSY ) after reviewing proposals, according to Reuters.

Citing two people familiar with the review, the outlet reported that the proposed plans entail a reduction of Renault's stake in Nissan from the current 43% to 15%. The 28% stake that Renault would be required to divest will be transferred to a trust under the proposed terms. The Japanese automaker is also eyeing investment in Renault’s ( OTCPK:RNSDF ) EV and software standalone business, Ampere .

Elsewhere, the French automaker announced that sales of its flagship brand dell 9.4% in 2022 to 1.47M units. COVID-19 impacts and supply chain bottlenecks were blamed for the performance. The auto group also highlighted growing EV sales as a key positive factor set to progress into 2023 and beyond.

Read more on the automaker’s reported deal with Saudi Aramco .

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