Nissan confirmed that it was in talks to invest in Renault Electric vehicle subsidiary.

CTOnews.com, October 12 (Xinhua)-- Renault and Nissan said on Monday local time that they were discussing ways to strengthen their partnership, including the possibility of Nissan investing in Renault's new electric vehicle subsidiary, according to the Wall Street Journal.

CTOnews.com has learned that the alliance between the two carmakers dates back more than 20 years as part of broader negotiations between the two sides to restructure the alliance.

Nissan is pressuring Renault to sell part of its 43% stake in Nissan in exchange for investing in Renault's new subsidiary, including its electric vehicle assets, the report said.

In addition, Nissan and Renault said they were discussing joint initiatives across markets, products and technology, which they said were aimed at strengthening the future of the alliance. They did not disclose details or timetables.