Japanese automaker Nissan and French automaker Renault have agreed to reorganize their 24-year-old alliance.  The new deal includes Renault reducing its 43% stake in Nissan to 15%, matching the stake Nissan has in Renault, and Nissan investing in Renault’s EV business. Nissan has been seeking to lessen Renault’s control over its management. Under French law, Nissan has not been able to vote its 15% stake in Renault because the French automaker had a stake in Nissan greater than 40%. Under the new agreement, Nissan would be able to vote its 15% stake in Renault. The financial terms of Nissan’s investment in Renault’s EV business were not disclosed. Executives from both firms have been working for months to reach an agreement on the automakers’ continued partnership. Both firms said their goal was to “strengthen the ties of the alliance and maximize value creation for all stakeholders.” The boards of both companies still need to approve the deal; a formal announcement is expected on Feb. 6.