Renault was set to approve a strategic alliance with Daimler at a special board meeting today, according to Le Figaro newspaper. The French automaker has since issued invitations to a press conference in Brussels on Wednesday.

The board meeting in Paris was also to discuss a ‘symbolic’ cross-shareholding of around 3% between the two groups.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Renault’s alliance partner Nissan would also feature in the financial deal, with an official announcement expected on Wednesday, the paper reported. Japan’s Nikkei business daily and Kyodo News said Renault chief executive Carlos Ghosn, who is also Nissan’s president, and Daimler CEO Dieter Zetsche would make the announcement in Brussels.

Rumours about such a deal have been circulating for some weeks. Ghosn has said he has held talks with various potential partners, including Daimler, on joint investment and technology sharing.

Daimler has said it has no objection in principle to such a deal. Renault currently owns 44.3% of Nissan, and the Japanese carmaker has a 15% stake in its French partner.

See Also:

The three companies had combined sales of 7.22m vehicles last year, behind the 8.6m units sold by the Volkswagen-Suzuki alliance and 7.81m sold by Toyota.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Renault and Nissan are developing a line of zero-emission electric vehicles, including the Nissan Leaf, while Daimler could contribute its diesel engines for luxury cars.

Daimler also sees an opportunity to turn around poor sales of its Smart minicars by sharing parts with carmakers that have strength in small vehicles.