Ford Motor Co has also begun separating its operations into electric, combustion engine and commercial vehicles, though Stellantis has rejected such a move as traditional automakers grapple how best to compete with Tesla.
However, Renault shares fell more than 4% in early trade, perhaps reflecting the lack of news on talks with Nissan. Renault's joint venture with Geely will employ 19,000 people at 17 powertrain factories and three research and development hubs, the companies said, adding they expected to reach a final agreement and launch the new company in 2023.
The preliminary agreement follows at least three months of negotiations and is non-binding, a person with knowledge of the terms told Reuters.
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Renault’s talks with Geely complicated by Nissan concernsNissan's concerns about technology transfers have complicated its partner Renault's plans to sell a large stake in its petrol-engine business to China's Geely, three people familiar with the talks said.
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