TOKYO (Reuters) - Nissan (OTC:NSANY) Motor Co's negotiations with its partner and top shareholder Renault SA (OTC:RNLSY) are focused on optimising their investment in electric vehicles and improving the competitiveness of the alliance, the Japanese automaker's CEO told Reuters on Friday.
Negotiations between Renault (EPA:RENA) and Nissan are ongoing with less than two weeks remaining to meet a Nov. 15 target the automakers had set to reach a deal, according to people with knowledge of the talks.
He said the negotiations were 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. "
Nissan is considering investing in Renault's planned electric vehicle unit, the companies said last month.
That unit includes Renault production sites in Spain, Portugal, Turkey, Romania and Latin America.
Source: Investing.com
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