Nissan-Renault, Daimler sign deal to share technology

• Source: Xinhua
• [08:39 April 08 2010]
• Comments

Chairman and CEO of the Renault-Nissan Alliance Carlos Ghosn (L) and Chairman of the Board of Management of Daimler AG and Head of Mercedes-Benz Cars, Dieter Zetsche attend a news press in Brussels, capital of Belgium, April 7, 2010. France's Renault, Japan's Nissan and Germany's Daimler launched a new partnership aimed at saving billions of euros and accelerating sales of pollution-light electric cars. Photo: Xinhua

Nissan Motor Co. and its French partner Renault SA on Wednesday signed a deal with Daimler AG to share engine technology and cooperate in developing compact and electric vehicles.

The deal with Germany's Daimler will also see the two companies taking a 3.1 percent stake in each other.

The alliance will be the third biggest in the world, and comes after similar deals between other automakers as the companies look to lower costs for research-intensive technologies that are less damaging to the environment.

Under the deal, Daimler will supply larger engines to Nissan and Renault for its luxury models, while receiving smaller engines from the two companies.

In 2009, the combined sales of the three companies was 7.64 million units.