# Nissan says talks with Renault focused on better competing in electric cars Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2022-11-04 Category: NEWS Category URL: https://financedigest.com/category/news Meta Title: Nissan and Renault talks focus on electric vehicle Meta Description: Nissan's CEO discusses negotiations with Renault to strengthen competitiveness and optimise EV investment for a lasting partnership. URL: https://financedigest.com/nissan-says-talks-with-renault-focused-on-better-competing-in-electric-carshtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/2022-11-04t054308z2lynxmpeia305jrtroptp4nissan-renault-1736814914841-compressed.jpg) By Kevin Krolicki and David Dolan TOKYO (Reuters) -Nissan Motor Co’s talks with [R](https://www.financedigest.com/cma-cgm-acquires-10-in-stake-in-volvo-renault-ev-joint-venture-renault-says.html) [enault](https://www.financedigest.com/cma-cgm-acquires-10-in-stake-in-volvo-renault-ev-joint-venture-renault-says.html) SA are focused on optimising their investment in electric vehicles and strengthening their competitiveness as equal partners, the Japanese automaker’s CEO told Reuters on Friday. Negotiations with Renault, also Nissan’s top shareholder, have less than two weeks remaining to meet a Nov. 15 [target the automakers had set](https://www.financedigest.com/eu-sets-recycling-reuse-targets-to-cut-packaging-waste.html "EU sets recycling, reuse targets to cut packaging waste") to reach a deal, according to people with knowledge of the talks. Nissan Chief Executive Makoto [Uchida](https://www.financedigest.com/nissan-will-not-fill-coo-position-left-open-by-guptas-departure.html) declined to comment on whether an [agreement could be reached](https://www.financedigest.com/adnami-signs-agreements-with-schibsted-and-amedia-to-deliver-high-impact-ads-with-unparalleled-reach-across-the-nordics.html "Adnami signs agreements with Schibsted and Amedia to deliver high impact ads with unparalleled reach across the Nordics") this month. But he said he was talking with Renault Chief Executive Luca de Meo every weekend and the [talks would be “ongoing for the future.”](https://www.financedigest.com/finnish-centre-right-eyes-coalition-talks-as-defeated-marin-considers-future.html "Finnish centre-right eyes coalition talks as defeated Marin considers future") The automakers said last month they were in discussions about the future of an [alliance founded in 1999 when Renault](https://www.financedigest.com/exclusive-nissan-seeks-tech-tie-up-without-renault-as-alliance-nears-end-of-road.html "Exclusive-Nissan seeks tech tie-up without Renault as alliance nears end of road") took a stake in Nissan and helped drive a turnaround for the Japanese company under former executive-turned fugitive Carlos Ghosn. Nissan is also considering [investing in Renault’s planned electric](https://www.financedigest.com/stellantis-to-invest-130-million-euros-in-german-plant-for-new-opel-electric-car.html "Stellantis to invest 130 million euros in German plant for new Opel electric car") vehicle unit, the companies said. Uchida said on [Friday that the talks](https://www.financedigest.com/extraordinary-rollercoaster-good-friday-talks-remembered-25-years-on.html "‘Extraordinary rollercoaster’, Good Friday talks remembered 25 years on") are aimed at improving the automakers’ ability to compete at a time of economic uncertainty and as the industry pushes toward what he described as its biggest transformation in a century with the shift to electric vehicles. “The discussion we are having is about how to make our competitiveness even stronger,” Uchida said. “That’s number one.” People with knowledge of the talks have said the two sides have also been discussing a reduction in [Renault’s 43% stake in Nissan](https://www.financedigest.com/from-boom-to-bottom-and-now-big-change-renault-and-nissan-reshape-alliance.html "From boom to bottom and now big change: Renault and Nissan reshape alliance"), potentially to 15% and the terms under which that could happen. We want it to be an equal partnership,” Uchida said, adding that an “equal [partnership would make sense and that would speed up the collaboration](https://www.financedigest.com/fintech-the-age-of-partnerships-and-collaboration.html "Fintech: the age of partnerships and collaboration") even more. He did not comment on potential stake levels. Renault is splitting off its [electric vehicle](https://www.financedigest.com/electric-vehicles-confront-the-leap-to-the-mass-market.html "Electric vehicles confront the leap to the mass market") business, code-named “Ampere”, from its legacy internal combustion engine business, code-named “Horse”, as it plays catch-up in the shift to electric vehicles led by U.S. rival Tesla Inc. On a separate track from its discussions with Nissan, [Renault has also been talking to Geely](https://www.financedigest.com/renault-geely-ink-pact-with-aramco-for-engine-venture.html "Renault, Geely ink pact with Aramco for engine venture") Automobile Holdings about the Chinese automaker taking a stake in its internal combustion-engine unit, people familiar with those talks have said. That [unit includes](https://www.financedigest.com/stanchart-weighing-options-including-sale-of-aircraft-lessor-unit.html "StanChart weighing options, including sale, of aircraft lessor unit") Renault production sites in Spain, Portugal, Turkey, Romania and Latin America. Uchida said Nissan understood the transformation [Renault](https://www.financedigest.com/nissan-renault-to-invest-600-million-to-make-6-new-models-in-india.html "Nissan, Renault to invest 0 million to make 6 new models in India") was undertaking with the carving out of its gasoline-car business and that “fair treatment” for Nissan as part of a new partnership was an area of discussion. He did not mention Geely by name. “If they have their new partner, A or B or C, what does that mean? We are openly discussing that,” he said. “Transparency is very important,” he added. Uchida said Nissan was making contingency plans for the prospect of a [global recession](https://www.financedigest.com/world-bank-warns-global-economy-could-easily-tip-into-recession-in-2023.html "World Bank warns global economy could easily tip into recession in 2023"). For us to be [sustainable in the market](https://www.financedigest.com/medical-device-cleaning-market-expected-to-witness-a-sustainable-growth-over-2019-2027.html "Medical Device Cleaning Market expected to Witness a Sustainable Growth over 2019 – 2027"), we need to anticipate many scenarios, and that’s what we’re doing,” he said. He cited the depreciation of the yen to its lowest level in decades as another concern for Nissan. (Reporting by Kevin Krolicki and David Dolan; Editing by Miyoung Kim and Edwina Gibbs) --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---