Report: Renault and Daimler set to seal partnership
French car-maker Renault and German auto manufacturer Daimler are set to sign a wide-ranging partnership that could involve the two companies taking minority shares in each other, the daily Le Figaro reported Friday.
The partnership could be decided at a special meeting of Renault's board of directors, scheduled for April 6, and announced to shareholders at Daimler and Renault general stockholders meetings on April 14 and 30, respectively, DPA reported.
The Financial Times reported Thursday that the exchange of minority shares would be symbolic and on the order of about 3 per cent.
The two companies have been holding talks over several joint projects, such as a platform for small cars and the production of common components for Renault models, Mercedes A and B series and the future Smart.
The Japanese carmaker Nissan, with which Renault already has a cross-sharing partnership, could also be involved in the new alliance.
According to Japanese press reports, Daimler could furnish high-power engines to Nissan in exchange for electric cars and batteries.