LONDON -- Renault and Nissan unveiled details of how they will reshape their troubled alliance to ease longstanding tensions and allow the partners to move forward as the industry shifts to electric, software-defined vehicles.
Under the agreement, which was announced in London on Monday, Nissan will to buy a stake of up to 15 percent in Renault's electric-vehicle business Ampere. The alliance's junior partner, Mitsubishi Motors, will also consider investing in Ampere.
The companies had already announced last month that Renault will reduce its stake in Nissan to 15 percent from about 43 percent now. Renault will transfer 28.4 percent of Nissan shares into a French trust, making the two more equal partners in the alliance.
The agreement includes new and existing joint ventures such as several models in South America and India from joint platforms, as well as in Europe, including an electric van called FlexEVan. In Renault’s core region of Europe, the partners will also collaborate on EV charging and recycling.
- READ MORE: Renault-Nissan's reshaped alliance: key joint projects