Ford and Nissan revealed the specifics of their revamped alliance on Monday, with the Japanese automaker agreeing to buy a share of up to 15% in Renault's Ampere electric vehicle division.

The alliance will be more accessible and more equal for the next 15 years due to the agreement, which also includes the previously announced reduction of Renault's stake in Nissan to make the two more equal partners, according to Renault CEO Luca de Meo.

Nissan executives have long-standing disagreements over the unfairness of the alliance between the two automakers, further exacerbated by the arrest of its architect and former chairman, Carlos Ghosn, in 2018 amid a financial scandal.

Despite having helped Nissan two decades earlier, Renault is today's lesser-known automaker in terms of sales.

• De Meo said at a presentation of the redesigned alliance in London, "I feel that what we have decided is a far better set-up than what we have had in the last few years."

• "Now that we have a new governance structure that is considerably simpler, we can do business as usual. From Renault's perspective, it's about recovering some strategic flexibility without necessarily severing the relationships and synergies that were already in place.

• It is currently unknown how much Nissan will contribute if it participates in Renault's flagship EV company, which is scheduled to go public.

On Monday, no financial information was provided on the company's valuation, which some reports have claimed might be as high as 10 billion euros. According to De Meo, the market determines the unit's worth.

• Nissan and Mitsubishi executives suggested that Ampere may contribute to expanding their European companies.

• Nissan CEO Makoto Uchida said, "We view Ampere as a facilitator for Nissan to participate in new commercial prospects in Europe."

According to Takao Kato, CEO of Mitsubishi, Ampere will also be a part of the business's European EV plan, and the corporation will "further investigate" its ownership stake in the division.

• Nissan and Renault previously disclosed that Renault would transfer a 28% investment in Nissan into a French trust, lowering its ownership in Nissan from about 43% to 15%.

• The statement on Monday added that while Renault will have the option to sell the Nissan shares held in the trust, "it has no responsibility to sell the shares within a specific pre-determined period of time."

• De Meo stated on Monday that Renault will sell its Nissan shares in "an orderly manner" and in "good faith."

• Nissan will have a right to the first bid when it does decide to sell.

The businesses will collaborate in the EV industry, electronics, and solid-state batteries, and they also hope to gain synergies through collaborative initiatives in Europe, India, and Latin America.

ALSO READ: Nissan claims that discussions with Renault centred on enhancing competition in electric vehicles.

By 1009 GMT, Renault's stock had decreased by about 1%.

After months of heated discussions made difficult by worries about the pooling of intellectual property, as Renault sought alliances with businesses outside the partnership, particularly China's Geely, the 24-year-old alliance has undergone a radical makeover.

A source said that the Renault board accepted the deal on Sunday night. It was also accepted by Nissan's board early on Monday, the person claimed.

• The lack of name recognition for Renault, according to CLSA analyst Christopher Richter, may make it difficult for the French automaker to raise a sizable sum of money for Ampere.

• "I wonder how much money you would truly raise once this device hits the market," he remarked. "For this reason, I believe they'll pressure Nissan into paying too much."

Richter pointed out that Honda and General Motors have established a partnership that includes co-developing less expensive EVs together without needing a capital relationship. However, he claimed the redesigned alliance could help Nissan and Renault work together a little more harmoniously.