TOKYO: Executives of French automaker Renault SA, including CEO Luca de Meo, will visit Japan as early as this weekend for talks to revise its partnership with Nissan Motor Co., Jiji Press learned Tuesday.

Nissan has requested that Renault reduce its stake in the Japanese partner from the current 43 pct to 15 pct, the same level as Nissan’s stake in Renault.

Meanwhile, Renault wants Nissan to invest in a new electric vehicle company to be created by splitting related operations.

Negotiations to revise their partnership have hit a wall due to the two sides’ differences over the protection of patents and other rights.

On Monday night, Nissan board members and others discussed a compromise on intellectual properties proposed by the Renault side.

According to the sources, the Nissan officials broadly agreed to accept the proposal, moving one step closer to an agreement in the negotiations.

JIJI Press