TOKYO/PARIS: French car maker Renault and its Japanese partner Nissan Motor aim to formally unveil a deal to reshape their alliance in London on Feb. 6, two sources close to the matter told Reuters on Thursday.

Leaders of the two companies were meeting via video link for an alliance board meeting on Thursday following months of intense negotiations over how to reset their long-running partnership. The boards of the two firms would still need to individually approve a potential deal after Thursday’s meeting.

Nissan directors endorse steps to reach deal with Renault

Renault is looking for the Japanese automaker to invest in its new electric-vehicle business while Nissan wants Renault, its top shareholder, to sell down its roughly 43% stake and put the 23-year alliance on a more equal footing.