Renault and Nissan, who were due to announce on December 7, a new deal on their restructured alliance, have decided not to go ahead with the announcement, reported Japan News Network (JNN).
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The announcement will not be made as the two sides are yet to reach an agreement – as of Friday – on how to share intellectual property, said JNN, adding there are no new plans on when it will be made.
Representatives for neither automaker were available for a response.
Japan’s Nissan Motor Co and France’s Renault SA were in discussions to restructure their alliance, which began in 1999, when the French giant bought a stake (43 per cent) in its Japanese counterpart. The recently-held talks were focused on Nissan’s plans to invest in Renault’s electric vehicle (EV) business, and, in order to put the two companies on an equal footing in the partnership, Nissan also sought sale of a part of Renault’s stake, and bring it down to around 15 per cent.
According to reports, the manufacturers had set a November 15 deadline to arrive at a deal.
(With Reuters inputs)