The German, French and Japanese auto companies have signed an agreement to share and co-develop engines
The new agreement involves the sharing and co-development of petrol and diesel engines, and co-operation in the commercial vehicle sector.
The two groups also announced an equity exchange that will give the Renault-Nissan Alliance a 3.1% stake in Daimler and Daimler a 3.1% in Renault and a 3.1% stake in Nissan.
The companies will cooperate on the next-generation smart fortwo and Renault Twingo, including electric versions, as well as on expanding the smart and Twingo families.
A steering committee headed by Daimler chairman Dieter Zetsche and Ghosn has been set up to manage the new alliance.
According to Dr. Dieter Zetsche, Chairman of the Board of Management of Daimler AG and head of Mercedes-Benz Cars, “Daimler and the Renault-Nissan Alliance are combining common interests to form a promising foundation for a successful, strategically sound cooperation that is based on a number of very concrete and attractive project cooperations. Our skills complement each other very well.
"Right away, we are strengthening our competitiveness in the small and compact car segment and are reducing our CO2 footprint – both on a long-term basis. We know that we can make brand-typical products based on shared architectures. The individual brand identities will remain unaffected.”