Text Version
RSS Feeds
Home Forum Photos Features Newsletter Archive Employment
About US Help Site Map
SEARCH   About US FAQ Site Map Site News
  -Text Version
  -RSS Feeds
  -News Archive
  -Give us feedback
  -Voices of Readers
  -Online community
  -China Biz info
  What's new
Renault, Nissan to strengthen alliance for 1.5 bln euro cost savings
+ -
08:05, May 31, 2009

 Related News
 Nissan to participate in China's electric car program
 Japan's domestic automobile sales plunge 32.4% in Feb.
 Major Japanese automakers report big drop in global output in January
 Nissan to cut domestic production by further 78,000 units
 Nissan to recall vehicles over air-bag defect in China
 Comment  Tell A Friend
 Print Format  Save Article
French second largest auto maker Renault SA and Japanese Nissan Motor Co. announced Friday they will strengthen their alliance with a goal of an extra 1.5 billion euros (about 2.1 billion U.S. dollars) in cost savings this year, the two companies said in a statement.

Renault-Nissan Alliance was to "accelerate and deepen" the cooperation, which was expected to get both companies through the global economic crisis, the statement said.

"Today, we must move faster," said Carlos Ghosn, the chairman of the alliance. "Seeking synergies is no longer optional, but mandatory."

According to the statement, the 2009 savings will be shared equally between the two partners.

Renault and Nissan's 10-year-old alliance is based on cross shareholding. As results of the Renault-Nissan Alliance, Renault holds a 44 percent of stake in Nissan, while Nissan holds 15 percent of Renault's shares. The two companies shared technology, standardization of production methods, the extension of products lines and developing their global presence.

Source: Xinhua

  Your Message:   Most Commented:
Tamil protesters block major freeway in downtown Toronto
Congress wins election in India
Controversy over China's first sex-theme park
China slams U.S. foreign affairs bill proposal, urges deletion
Official fined for underage sex

|About Peopledaily.com.cn | Advertise on site | Contact us | Site map | Job offer|
Copyright by People's Daily Online, All Rights Reserved