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STORY: Nissan and Renault will announce their new alliance deal in the coming days.

That’s according to people familiar with the matter.

It caps 10 months of sometimes tense negotiations.

The automakers announced a framework agreement in February.

Nissan would take as much as 15% of Renault's new electric vehicle unit, Ampere.

And Renault would reduce its 43% stake in Nissan.

A source said the size of Nissan’s stake still hinges on the value of Ampere - but it is now likely to take less than 10% of the new unit.

The automakers aimed to finalize the deal as early as March - but the timeline slipped.

Reuters reported that this was due to Nissan directors challenging details of the deal, including how to protect Nissan's intellectual property.

Analysts said that was indicative of the Japanese automaker’s attempts to bring the decades-long relationship with Renault to a more equal footing.

Carlos Ghosn, the fugitive former executive who built the original alliance, gave his views earlier this week.

He says the new deal reveals a strained relationship:

"And with the latest agreement, they're trying to go for a mini-alliance with a very reduced scope of cooperation.

Still a lot of distrust between the two organisations, that's exactly the situation."

Renault expects to list Ampere in an initial public offering in the first half of 2024.

Sources have said the unit could be valued at up to $11.2 billion.

Renault declined to comment.