Renault-Nissan and Daimler to Shake Hands

Tuesday 06 April 2010, 00:00 AM by Payal Pathak

Renault and Nissan have already had a successful alliance with each other for nearly a decade now. Now both the companies are ready to shake hands with German luxury car maker Daimler. The board meeting will take place today at Renault’s headquarters on outskirts of Paris. The three companies will sign an equity swap deal which will allow them to initiate various strategic cooperations, which in turn will enable them to “save millions of Euros”. The deal will include all car models including small cars to luxury models owned by each company.

All three companies are expected to be benefited from the new deal where Daimler will have access to Renault’s small car technology presently being used in Renault Clio and Twingo. On the other hand, Nissan’s luxury car division will have access to Daimler’s engine technology. Renault chairman Carlos Ghosn, who is also Nissan's president, himself spoke of talks with various partners, including Daimler on questions of joint investment, scale and the sharing of technology. Daimler also does not have any objections to this deal.

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