Mercedes, Renault-Nissan Team Up
Daimler chief Dieter Zetsche and Renault/Nissan chief Carlos Ghosn have signed an agreement to share technologies and platforms, with a small 3.1% equity exchanging hands. The two heads lead a 12-member committee to identify and work on projects where the three auto giants can find synergy to better compete with competitors.
This is the latest in a long line of attempts by luxury car Mercedes to partner with a mass-market automaker that can help with popularly priced models without compromising the three-pointed star brand. The 3 companies expect to realize cost savings and added revenue of about $5.4 billion from the deal, which is open-ended in time and number of potential projects. It also helps Renault/Nissan fill up its underutilized capacity and helps both pose credible threat to Volkswagen Group surge.
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