Japanese Nissan, French Renault, and German Daimler will announce news on Wednesday regarding a capital and business connection, with a planned mutual purchase of three percent stakes, media reported.
Renault’s President Carlos Ghosn, who is also the President of Nissan, and Daimler’s CEO Dieter Zetsche will issue a statement at a press conference in Brussels, reported the Japanese business daily Nikkei and Kyodo News. Renault currently owns 44.3 percent of Nissan, while the Japanese automaker holds a 15 percent stake in the French company. As part of the capital connection, Renault and Daimler will mutually hold about three percent stakes, and Nissan and Daimler will enter into a similar mutual arrangement, Nikkei reported, without citing a source. The three companies sold a total of 7.22 million vehicles last year, compared to 8.6 million vehicles sold by the connected Japanese Suzuki and German Volkswagen, and 7.81 million sold by Toyota. Renault and Nissan are developing a line of electric vehicles, which includes Nissan’s Leaf model, while Daimler can contribute with its strong diesel engines for luxury vehicles and trucks. (H)
