Nissan to take stake in Renault electric vehicle unit to repair alliance

New 15-year deal includes working together on electronics and battery technology

Nissan is to take a stake of up to 15% in Renault's flagship electric vehicle unit as part of a new long-term deal designed to repair relations in the troubled 24-year alliance between the two global automotive makers.

The 15-year agreement includes seeking savings from joint projects in Europe, India and Latin America, as well as working together on electronics and battery technology.