Nissan and Renault are close to an announcement after finalising their restructured alliance deal, Reuters reported.

This was the end of 10 months of negotiations which the news agency described as “sometimes tense”.

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Last February, the automakers unveiled a framework agreement and aimed to finalise negotiations as early as March.

Nissan was expected to acquire up to a 15% stake in Renault’s new EV unit, Ampere, while Renault would reduce its 43% share in Nissan.

However, the timeline was extended due to concerns raised by senior Nissan executives and some directors regarding deal details. They stressed the importance of safeguarding their intellectual property, leading to the delay.

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The postponement complicated Nissan’s efforts to create a more equitable alliance, following the upheaval caused by former chairman Carlos Ghosn’s removal.

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Nissan is finalising a revised investment plan for Renault, aiming below the previously announced maximum of 15%. According to insiders, the investment amount wpi;d depend on the valuation of Ampere, a key factor in the negotiations. It was expected Nissan would likely take a stake of less than 10%.

Nissan said: “We will make a statement in due course when the agreements are concluded.” Renault declined to comment to Reuters.

Negotiations centred on addressing intellectual property concerns, including technology which might not yet exist.

Mitsubishi said it was considering investing in Ampere but no decisions had been made.

Talks reportedly were delayed as Nissan’s board dealt with a claim chief executive Makoto Uchida had spied on his former deputy, Ashwani Gupta, who opposed certain terms of the new alliance with Renault.

Gupta left the company in June and the board is awaiting a final report on the surveillance claim.