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Nissan Says Talks with Renault Focused on Better Competing in Electric Cars

Nissan Motor Co’s talks with Renault SA on revamping their alliance are focused on strengthening competitiveness as equal partners and getting the most from their investment in electric cars, the Japanese automaker’s CEO told Reuters.

The negotiations with Renault, Nissan’s top shareholder, have less than two weeks remaining to meet a Nov. 15 target the companies had set to reach a deal, according to people with knowledge of the talks.

Nissan Chief Executive Makoto Uchida declined to comment on whether an agreement could be reached this month. But he said he was talking with Renault CEO Luca de Meo every weekend and the talks would be “ongoing for the future.”

Uchida, who has spent much of his Nissan career in positions related to the Franco-Japanese alliance, emphasised that the talks were based on mutual trust. Each company had valuable technology and discussions of technology transfers were to be expected, he added.

The company says talks with Renault focused on better competing in electric cars

Nissan Motor Co’s (7201.T) talks with Renault SA (RENA.PA) on revamping their alliance are focused on strengthening competitiveness as equal partners and getting the most from their investment in electric cars, the Japanese automaker’s CEO told Reuters.

The negotiations with Renault, Nissan’s top shareholder, have less than two weeks remaining to meet a Nov. 15 target the companies had set to reach a deal, according to people with knowledge of the talks.

Nissan Chief Executive Makoto Uchida declined to comment on whether an agreement could be reached this month. But he said he was talking with Renault CEO Luca de Meo every weekend and the talks would be “ongoing for the future.”

People familiar with the negotiations have said the sharing of technology had emerged as one sticking point.

Uchida, who has spent much of his Nissan career in positions related to the Franco-Japanese alliance, emphasised that the talks were based on mutual trust. Each company had valuable technology and discussions of technology transfers were to be expected, he added.

He said the goal was to improve 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 in an interview with Reuters on Friday. “That’s number one.”

Source: Reuters


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