Nissan shares slide 5% after Renault report

STORY: Nissan shares fell the most in a month on Monday (April 25).

The 5% drop comes after Friday’s report that top shareholder Renault could lower its stake in the Japanese carmaker.

Bloomberg reported that Renault could do so as it pushes to separate its electric vehicle and combustion-engine businesses.

That as it tries to catch-up with rivals Tesla and Volkswagen.

Renault said all options were on the table for splitting its EV business, which includes a possible public listing in the second half of 2023.

The French firm said any plans would be subject to approval from its alliance partner Nissan.

Both car companies have declined to comment on the report.

They have been aligned for two decades and pledged to work closer together on electric car development in January.

The two have a $26 billion investment plan in place for the next five years.

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