Nissan says talks with Renault focused on better competing in electric cars

Nissan Motor Co's talks with Renault SA are focused on optimising their investment in electric vehicles and strengthening their competitiveness as equal partners, the Japanese automaker's CEO told Reuters on Friday.

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Negotiations with Renault, also Nissan's top shareholder, have less than two weeks remaining to meet a Nov. 15 target the automakers had set to reach a deal, according to people with knowledge of the talks.

Nissan Chief Executive Makoto Uchida declined to comment on whether an agreement could be reached this month. But he said he was talking with Renault Chief Executive Luca de Meo every weekend and the talks would be "ongoing for the future."

The automakers said last month they were in discussions about the future of an alliance founded in 1999 when Renault took a stake in Nissan and helped drive a turnaround for the Japanese company under former executive-turned fugitive Carlos Ghosn.

Nissan is also considering investing in Renault's planned electric vehicle unit, the companies said.

Uchida said on Friday that the talks are aimed at improving the automakers' ability to compete at a time of economic uncertainty and as the industry pushes toward what he described as its biggest transformation in a century with the shift to electric vehicles.