Renault, Nissan and Daimler partner to develop electric cars and light commercial vehicles
Wed 07 April 2010
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Renault, Nissan and Daimler have agreed a three-way, equity-sharing alliance to cooperate in the development of electric cars, small conventional passenger cars and light commercial vehicles. The deal will see the companies remain separate, but allow them to share technology and development costs including the creation of new forms of powertrain and engine that promise to enhance efficiency.
Daimler will receive Renault shares equivalent to 3.1 per cent of the French group, and will take 3.1 per cent of Nissan's existing shares from Renault. In return, Renault is to receive 3.1 per cent of Daimler's shares, half of which will be exchanged with its Japanese partner in return for 2 per cent of Nissan's shares. The projected savings are estimated to be about £1.76bn over the first five years.
Commenting on the deal, Daimler's Chairman Dr Dieter Zetsche said it was "a promising foundation" that would allow the companies to share resources. "We know that we can make brand-typical products based on shared architectures. The individual brand identities will remain unaffected," he said. Carlos Ghosn, Chairman and Chief Executive of the Renault-Nissan Alliance, commented: "This industry is moving more and more towards increasing scale, and sharing innovation and investment."
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