Daimler-Benz and Renault-Nissan have today confirmed their plans for cooperation on future models in a move aimed to ensure the firms stay ahead in the technology race.
The agreement sees each partner buy a minor stake in each other, while agreeing to share platforms and drive-trains. This means new luxury models from Infinti and Mercedes Benz will be closely co-developed, while smaller models like the Smart and Renault’s Twingo, will also share technology.
The tie-up will see the companies save on research and development, without harming their individual brand integrity. Co-operation between manufacturers is becoming more common place as the big players in the industry seek to save costs and reduce their environmental impact.
Renault-Nissan chairman Carlos Ghosn said: ‘This agreement will create lasting value for the Renault-Nissan Alliance and Daimler as we work on broadening and strengthening our product offering, efficiently utilising all available resources and developing the innovative technologies required in the coming decade.’