Report: Nissan-Renault and Daimler Agree on Tie-Up, to Announce This Week

Kyodo News reports that the Renault-Nissan Alliance has basically agreed on a capital and business tie-up deal with Daimler AG, citing unnamed sources familiar with the matter.

The agreement is expected to be announced Wednesday at a press conference in Brussels by Nissan President Carlos Ghosn, who concurrently serves as president and chief executive officer of Renault, and top Daimler executives, the sources said.

…Ghosn and Daimler executives are keen on developing electric vehicles as well as compact cars to be marketed in emerging and developing countries, the sources said. Daimler is also considering supplying large-displacement gasoline and diesel engines to Nissan, Japan’s third-largest automaker which is owned 44.3 percent by Renault, they said.