The Renault-Nissan alliance comes to an end

The restructuring of the partnership between French automaker Renault and Japanese Nissan has come to an end.

Renault and Nissan formed a partnership in 1999, bringing one of the world’s largest automotive groups to the stage.

For the past 10 months, the two companies have been negotiating to restructure the alliance.

According to Reuters, Renault and Nissan will announce the new version of the alliance in the coming days.

The automakers announced a framework agreement in February and aimed to complete negotiations in March at the earliest. However, the negotiations dragged on due to disagreements over intellectual property rights.

Under this framework, electric vehicle company Nissan would receive a 15 percent stake in electric vehicle company Ampere, while Renault would reduce its 43 percent stake in Nissan.

“Nissan and Renault are engaged in ongoing and constructive negotiations,” the Japanese company said in a statement. We will make a statement when the agreements are signed.” saying.

Renault declined to comment but said it aims to go public with Ampere in the first half of 2024. Sources said the company’s value could rise to $11.2 billion.