Nissan shares fall 4% on report Renault exploring stake sale

2022.04.25 04:10

FILE PHOTO: 2023 Nissan Pathfinder is unveiled at the 2022 New York International Auto Show, in Manhattan, New York City, U.S., April 13, 2022. REUTERS/Brendan McDermid

TOKYO (Reuters) – Shares of Nissan (OTC:NSANY) Motor Co Ltd dropped 4% in early trade on Monday, following a report that its top shareholder Renault SA (OTC:RNLSY) is exploring a potential stake sale.

Bloomberg reported on Friday that Renault (EPA:RENA) may consider lowering its stake in Nissan as part of its plans to separate its electric vehicle (EV) business.

Renault has been pushing ahead with plans to split its EV and combustion engine businesses as it seeks to catch up with rivals such as Tesla (NASDAQ:TSLA) and Volkswagen (ETR:VOWG_p)

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