Nissan shares fell by 5%, the most in a month, on Monday after shareholder Renault said it could lower its stake in the Japanese carmaker as it pushes to separate its electric vehicle and combustion-engine businesses
, was rocked by the 2018 ouster of alliance founder Carlos Ghosn amid a financial scandal. They have since pledged to pool more resources.
In January they said they would work more closely together to make electric cars. They detailed a $26 billion investment plan for the next five years. But their unequal relationship has long been a source of friction in Japan. Renault owns 43.4% of Nissan, which in turn has a 15% non-voting stake in its shareholder. Renault bailed out Nissan two decades ago, but is now the smaller automaker by sales.Reporting by Satoshi Sugiyama and David Dolan; Editing by Bradley Perrett and Muralikumar AnantharamanSubscribe to our auto newsletter to get the latest news that are driving the global automotive industry.
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