Nissan-Renault talks focus on electric vehicles

STORY: Nissan's CEO said talks with its partner Renault aimed to make the pair more competitive as equal partners.

Speaking to Reuters, Makoto Uchida also said they aimed to get the most from their investment in electric cars.

The companies said last month that Nissan had considered investing in Renault's new electric vehicle unit.

Uchida declined to say whether the Japanese carmaker might raise its plan to invest $13.6 billion in electric vehicles by 2026.

The talks are now at a key stage, with a target of November 15th set for a deal to be reached.

Uchida did not say whether an agreement could be reached this month, but is talking with Renault boss Luca de Meo every weekend.

Sources close to the matter said the sharing of technology was a sticking point.

The Nissan boss said the goal was to improve the automakers' ability to compete at a time of economic uncertainty.

That as the industry pushes toward a major transformation with the shift to electric vehicles.

The Renault-Nissan partnership began in 1999.

But Japanese execs have been frustrated over the unequal ownership structure.

Renault owns 43% of Nissan, while the Japanese automaker holds only a 15% non-voting stake in Renault.

Sources with knowledge of the talks have said the two sides have discussed lowering Renault's stake - potentially to 15%.