Tokyo: Nissan Motor Co. said Wednesday that it has reached a final agreement with Renault SA to achieve an equal capital relationship.

Under the agreement, Renault will reduce its stake in the Japanese automaker from 43 pct to 15 pct, the same as Nissan’s stake in the French company.

The two companies also agreed that Nissan will invest up to 600 million euros in Renault’s new electric vehicle company, Ampere.

More than two decades after Renault acquired a stake in Nissan, which was near-bankrupt at the time, the two companies’ relations will enter a new phase.

Nissan and Renault will pursue flexible cooperation with other companies depending on region while maintaining the benefits of scale from their alliance.

JIJI Press