Renault, Daimler to announce partnership
French carmaker Renault, its Japanese alliance partner Nissan (7201.T) and Germany's Daimler are likely to announce partnership and cross-shareholding plans as early as Wednesday, sources told Reuters.
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Source: Renault, Daimler to announce partnership
Quote from the article:
Renault and Daimler have been discussing a partnership as carmakers worldwide seek to become more competitive, sharing technology costs and gaining scale. The automobile sector, which is emerging from a drastic downturn, is also scrambling to meet tightening emissions rules. Renault's board is due to hold an extraordinary meeting to discuss the plans on Tuesday afternoon, a Renault source told Reuters late last week. Nissan is also expected to be involved in the agreement, and the three companies will likely cement the partnership with small cross-shareholdings. Renault already owns 44.3 percent of Nissan, while the Japanese company has a 15 percent stake in its French partner. |
Source: Renault, Daimler to announce partnership
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