Japan automaker Nissan reports profit rise despite China stumble, outlines Renault alliance
Nissan and Renault have formally redefined their French-Japanese auto alliance into a more equal one in cross-shareholdings, both sides said Wednesday. The disparity between the holdings has long been a cause of friction in the alliance, set up in 1999. At the start, Nissan, based in the Japanese port city of Yokohama, had been on the verge of bankruptcy. Under the latest terms, which still need regulatory approval expected by the end of the year, Nissan Motor Co. will invest 600 million euros ($663 million) in Ampere, Renault’s electric vehicle and software entity in Europe. Renault Group