Nissan and Renault agree to overhaul alliance, this time as equals

that will put them on equal footing and see the Japanese company invest in Renault's new electric vehicle business.

Their unequal relationship had long been a source of friction among Nissan executives. While Renault bailed out Nissan two decades ago, it is the smaller automaker by sales., was deeply strained by the ouster of its architect and former chairman, Carlos Ghosn, amid financial scandal. The deal includes a lock-up that prevents share sales for a certain period, as well as a standstill obligation, which puts other limits on a stock sale.

Renault plans to instruct the French trustee to sell the Nissan shares, worth around $4.1 billion at current market values, if commercially reasonable for Renault, in a coordinated and orderly process, it said.

Electric car creation is like dropping nukes in the Congo. The mining is causing more damage than oil ever did.

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