Nissan pushes partner Renault to sell down stake

Nissan Motor Co Ltd is pressing French partner Renault SA to cut its stake in the Japanese automaker as much as possible, ideally to 15%, and may consider raising funds to buy back the shares, Qazet.az reports.

The demands were made in exchange for Nissan agreeing to invest in Renault's new unit being set up to house its electric vehicle (EV) assets, said the source, who sought anonymity as the talks are not public.

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Renault owns about 43% of Nissan, which wants its French ally to wind down the stake to 15%, drawing level with Nissan's share in the alliance partner, the source said.