Renault, Nissan aim for deal by Feb 6 - source

STORY: Renault and Nissan aim to unveil a deal to reshape their alliance in London on February 6th.

That's what two sources close to the matter told Reuters.

Leaders of the French and Japanese carmakers met through video link for a board meeting on Thursday (January 26).

It came after months of intense negotiation over how to reset the partnership.

The sources said talks have progressed well.

But the boards of both carmakers would still need to individually approve a potential deal after Thursday's meeting.

Renault wants Nissan to invest in its new electric-vehicle business.

The Japanese carmaker in turn wants Renault to sell down its 43% stake and make their alliance more equal.

A spokesperson for Nissan did not comment on Thursday.

Renault has consistently not spoken publicly about the talks.

The two companies are expected to announce five joint projects to relaunch the partnership.

One source said the deal would cover manufacturing, technology and other areas.

Renault CEO Luca de Meo has said the automaker had pitched working together on 10-15 projects.