Nissan plans to reduce stake in Renault, CEO Espinosa tells Nikkei

Nissan Motor 7201 CEO Ivan Espinosa said that the company plans to reduce the automaker's stake in French partner Renault RNO, the Nikkei business newspaper reported on Monday.

Selling a 5% stake in Renault would raise about 100 billion yen ($640 million) at current share prices, funds Nissan plans to use for new vehicle development amid challenging business conditions, the report said.