Renault, one of France's automotive behemoths, has announced that it is considering selling a portion of its 43 percent interest in Nissan. Renault also stated that the proceeds from the sale will be utilized to develop electric automobiles.
Renault SA Nissan Motor Co. has declared that it will sell some of its stock in order to raise billions of dollars for the electric vehicle transition while also easing long-standing tensions between it and its partner. Renault is treading a fine line by selling off some of its 983.5 billion yen (7.1 billion euro) shares, and it is also attempting to strike a balance without abandoning its 23-year cooperation with Toyota.
It is stated that Nissan has a 15 percent stake in Renault and the lack of voting rights is a factor that has bothered Nissan executives for many years due to the disproportionate partnership structure between the two.