© Reuters. FILE PHOTO: 2023 Nissan Pathfinder is unveiled on 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:) Motor Co Ltd dropped 4% in early commerce on Monday, following a report that its high shareholder Renault SA (OTC:) is exploring a possible stake sale.
Bloomberg reported on Friday that Renault (EPA:) might take into account decreasing its stake in Nissan as a part of its plans to separate its electrical automobile (EV) enterprise.
Renault has been pushing forward with plans to separate its EV and combustion engine companies because it seeks to meet up with rivals akin to Tesla (NASDAQ:) and Volkswagen (ETR:)