French Renault to cooperate with German Daimler: reports

• Source: Xinhua
• [12:55 April 06 2010]
• Comments

French automaker Renault SA will hold a meeting on Tuesday to seal the agreement of partnership with German automaker Daimler, French daily newspaper Le Figaro reported on its website on Monday.

The administrative council of the French manufacturer, scheduled on Tuesday morning, will grant the accord without surprise, thus the German producer of Smart and Mercedes and Renault will start cooperation, the report said.

Renault will publish an official statement on the integration by Wednesday night, le Figaro said, specifying "they will acquire a symbolic stake of 3 percent shares of the other side."

"Japanese Nissan, which is owned 44 percent by Renault, will also take part in the financial event," the newspaper added.

Renault-Nissan and Daimler would share their technologies on small-cars development as well as collaborate on the research and development of hybrids, battery powered vehicles and other fuel-efficient technologies, according to latest reports by the US and Japanese media.

Chief executives of trilateral sides have recently expressed optimism about the cooperation.