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Auto giants beef-up co-op deal

2013-09-12 09:12

LET'S SHAKE ON IT: Dieter Zetsche of Daimler (left) and Renault-Nissan's Carlos Ghosn said at the 2013 Frankfurt auto show that their companies would focus on more joint ventures. Image: AP

Daimler and Renault Nissan have said its partnership will go beyond European projects with a new focus on "synergies in all markets".

FRANKFURT, Germany - German auto giant Daimler and French-Japanese carmaker Renault-Nissan said Wednesday they plan to deepen their existing co-operation and there would be no "no-go" areas in their partnership.

Renault-Nissan chief Carlos Ghosn told a news conference on the sidelines of the 2013 Frankfurt auto show that opened this week: "While our initial collaboration was strongly focused on European projects, we're now concentrating on synergies in all markets. If it makes sense for us to work together then we will. There are no taboos for us."

LOGICAL DEAL

Daimler's chief executive Dieter Zetsche said the two automakers would "continue to look for new joint projects where they make sense for both partners and, more importantly, for our customers".

The ties linking the two groups date back to April 2010 but have strengthened since and currently cover 10 projects from the construction of a joint engine plant in the US to the co-development of future Smart and Twingo models.

The co-operation, which includes a cross-shareholding of 3.1% between the two groups, aims to generate cost savings of two-billion euros by 2016.
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