Renault and Nissan are set to announce on Wednesday that they have agreed a tie-up with German car maker Daimler.
A press conference in Brussels has been called for 8.45am UK time, which will be hosted by Dieter Zetsche, chairman of Daimler, and Carlos Ghosn, chief executive of the Renault-Nissan Alliance.Although all parties declined to comment on the reasons for the press conference, it is understood that the car makers will announce they are going to co-operate on developing technologies for small cars, next-generation models and commercial vehicles.
Renault-Nissan will also take a stake of about 3pc in Daimler, the owner of Mercedes-Benz, with the German company taking an equal stake in the French and Japanese car makers.
Vehicle manufacturers are increasingly being attracted to partnerships as they seek to share research and development costs in the face of a difficult outlook for the industry. Car sales are expected to fall across Europe this year following the end of scrappage incentives, including by about 10pc in the UK, with the longer-term future for the industry facing concerns that there is an overcapacity in production.
The French government holds a 15pc stake in Renault and Christian Estrosi, industry minister, said he was "backing the partnership to enable a greater alliance".
Renault and Nissan established their partnership in 1999, reporting combined sales of 6.1m vehicles in 2009, equivalent to 10pc of the global market. Renault has a 44pc stake in its Japanese peer while Nissan owns 15pc of the French car maker. Daimler controlled US car-maker Chrysler from 1998 until 2007, when it sold it to Cerberus Capital Management.
Article form the telegraph
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1 comments:
Why not when Daimler has so many products with good report in the market to fall back upon?It is good collaboration of excellent companies.It will result in better benefit for the customer eventually.
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