Daimler, Renault-Nissan create partnership for small cars, powertrains
Daimler AG, Renault SA and Nissan Motor Co. agreed to a global share-swapping alliance that will have the German automaker and its French-Japanese partner cooperating on the development of small cars, commercial vehicles and future powertrains.
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Source: Daimler, Renault-Nissan create partnership for small cars, powertrains
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Under the agreement, Daimler plans to take a 3.1 percent stake each in Nissan and Renault, while Nissan and Renault will each take a 1.55 percent share of Daimler. The move is part of a push by Renault-Nissan CEO Carlos Ghost to broaden cooperation with other automakers, drive down costs and share the burden of developing new technologies to meet stricter emissions regulations. The three-way partnership follows similar tie-ups between Fiat SpA and Chrysler Group and between Volkswagen AG and Suzuki Motor Corp. Renault and Nissan have an alliance dating to 1999. Today, the French automaker holds a 44.3 percent stake in its Japanese partner, while Nissan has a 15 percent stake in Renault.“In the area of new technologies, demands from regulators and consumers are intense and unrelenting,” Ghosn said at a news conference in Brussels. “We have to continue to develop a wide range of new technologies to stay relevant and competitive, and the investments required on the front end are significant.” |
Source: Daimler, Renault-Nissan create partnership for small cars, powertrains
