Renault-Nissan, Daimler unveil tie-up plan aimed at developing fuel efficient vehicles
By APWednesday, April 7, 2010
Renault-Nissan, Daimler unveil tie-up plan
BRUSSELS — Renault SA and Nissan Motor Co. have unveiled a wide-ranging three-way tie-up with German automaker Daimler AG to bolster their offerings in small, energy-efficient vehicles.
The move comes amid an industry slump that has ravaged the companies’ earnings.
The partnership will be sealed with a cross-shareholding giving each company a 3.1 percent stake in the others, the companies said in a statement Wednesday.
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