Renault in Talks With Daimler on Vehicle Technologies
Dec. 17 (Bloomberg) -- Renault SA, France’s second-largest carmaker, said Daimler AG is a potential partner for sharing vehicle technology in a linkup that would lower expenses.
“We are in discussions with Daimler about serious opportunities, just as we are with other potential partners,” Chief Operating Officer Patrick Pelata told reporters at the French carmaker’s headquarters outside Paris. Renault is among “a number” of carmakers that the German company is in talks with on developing small cars, Daimler Chief Executive Officer Dieter Zetsche said today in an interview in Berlin.
Carmakers pool production where possible to match the economies of scale achieved by the likes of Toyota Motor Corp., the world’s biggest carmaker, and Volkswagen AG, Europe’s biggest. Stuttgart, Germany-based Daimler aims to choose a partner early in 2010 to share its Smart city-car brand and engine production for subcompacts, Zetsche said Dec. 14.
“We are making progress” in discussions with other carmakers on cooperating on small cars, Zetsche said today after a presentation of an electric-powered Smart. “We have contacts with Renault as well.”
Renault fell 45 cents, or 0.1 percent, to 35.90 euros as of 11:53 p.m. in Paris trading. Daimler declined 71 cents, or 1.9 percent, to 36.41 euros on the Frankfurt exchange.
BMW-Peugeot Ties
Bayerische Motoren Werke AG, the world’s largest luxury-car manufacturer, is working with PSA Peugeot Citroen on engines for its Mini small cars and is building a factory with Brilliance China Automotive Holdings Ltd. Volkswagen agreed on Dec. 9 to buy a stake in Suzuki Motor Corp. to pursue energy-efficient small cars. Paris-based Peugeot is weighing an investment in Tokyo-based Mitsubishi Motors Corp.
Renault is open to new partnerships to share development and production of vehicles, engines and transmissions, Pelata said today.
The French carmaker shares parts and some vehicle development with 44 percent-owned Japanese affiliate Nissan Motor Co. Larger domestic rival Peugeot jointly manufactures small cars, commercial vans and four-wheel drives with Toyota, Fiat SpA and Mitsubishi Motors.
“There are a lot of discussions among carmakers at the moment,” Pelata said.
Full-year revenue Renault “should be” 17 percent to 18 percent lower, the executive said. Nine-month sales fell 20 percent, Renault said on Oct. 29.
Source: Renault in Talks With Daimler on Vehicle Technologies
“We are in discussions with Daimler about serious opportunities, just as we are with other potential partners,” Chief Operating Officer Patrick Pelata told reporters at the French carmaker’s headquarters outside Paris. Renault is among “a number” of carmakers that the German company is in talks with on developing small cars, Daimler Chief Executive Officer Dieter Zetsche said today in an interview in Berlin.
Carmakers pool production where possible to match the economies of scale achieved by the likes of Toyota Motor Corp., the world’s biggest carmaker, and Volkswagen AG, Europe’s biggest. Stuttgart, Germany-based Daimler aims to choose a partner early in 2010 to share its Smart city-car brand and engine production for subcompacts, Zetsche said Dec. 14.
“We are making progress” in discussions with other carmakers on cooperating on small cars, Zetsche said today after a presentation of an electric-powered Smart. “We have contacts with Renault as well.”
Renault fell 45 cents, or 0.1 percent, to 35.90 euros as of 11:53 p.m. in Paris trading. Daimler declined 71 cents, or 1.9 percent, to 36.41 euros on the Frankfurt exchange.
BMW-Peugeot Ties
Bayerische Motoren Werke AG, the world’s largest luxury-car manufacturer, is working with PSA Peugeot Citroen on engines for its Mini small cars and is building a factory with Brilliance China Automotive Holdings Ltd. Volkswagen agreed on Dec. 9 to buy a stake in Suzuki Motor Corp. to pursue energy-efficient small cars. Paris-based Peugeot is weighing an investment in Tokyo-based Mitsubishi Motors Corp.
Renault is open to new partnerships to share development and production of vehicles, engines and transmissions, Pelata said today.
The French carmaker shares parts and some vehicle development with 44 percent-owned Japanese affiliate Nissan Motor Co. Larger domestic rival Peugeot jointly manufactures small cars, commercial vans and four-wheel drives with Toyota, Fiat SpA and Mitsubishi Motors.
“There are a lot of discussions among carmakers at the moment,” Pelata said.
Full-year revenue Renault “should be” 17 percent to 18 percent lower, the executive said. Nine-month sales fell 20 percent, Renault said on Oct. 29.
Source: Renault in Talks With Daimler on Vehicle Technologies
Related Stories
12/16/2009 01:50 PM: Renault to stay in Formula One with new investor by DavidGPThe French Renault car company today announced during a press conference in Paris they have decided to stay in Formula One, but have sold a 75 percent stake to the Luxembourg Genii Capital Investment ...
12/10/2009 10:56 AM: Renault pondering return to North America by DavidGP
Renault hasn't been in the US market since 1987, the year the Alliance and the Encore stopped trickling out of AMC factories. Few have missed the French automaker's presence since it left our shores...
12/04/2009 02:16 PM: Renault considering buyout bids by DavidGP
Renault is evaluating two rival bids to take over its Formula 1 team and may announce a change of ownership as soon as next week, according to sources in France and the UK....
12/02/2009 12:47 PM: Renault takeover to parachute Villeneuve back into F1? by DavidGP
In one of the more bizarre stories of an already extremely bizarre F1 silly season, it has been reported that a company called Gravity may be in negotiations to buy Renault's Enstone-based operation ...
11/25/2009 12:58 PM: Renault delays new Lada products to focus on improving quality by DavidGP
All eyes have been on Renault since acquiring a 25% stake in Russian automaker Avtovaz. The French carmaker headed by the venerable Carlos Ghosn beat out Fiat and General Motors to acquire the interes...
