Nissan and Renault Plan to Extend Pact

Partners Nissan Motor Co. and Renault plan to extend their thus-far successful alliance, with the Japanese auto maker agreeing Tuesday to buy as much as 15% of its French partner as they seek to develop new vehicles together and find ways to share costs.

Paris-based Renault, in turn, will exercise an option to raise its stake in Japan’s No. 2 auto maker next year, from 37% to 44%, at a cost of about $1.8 billion.

The companies said Nissan will pay about $1.1 billion for its Renault stake.