The Renault-Nissan Alliance and Daimler AG announce wide-ranging strategic cooperation
- Cooperation on future generations of smart fortwo and Renault Twingo, including electric versions, as well as the extension of product families smart and Twingo
- Wide sharing of motor propellants and joint development of future projects groups in the field of private cars and light commercial vehicles, including:
o Sharing and joint development of diesel and gasoline engines from the Renault-Nissan Alliance. Some will go towards the new smart and Renault Twingo; others will be adapted and modified according to the specificities of Mercedes-Benz for its new generation of compact high-end vehicles.
o Sharing of diesel and gasoline engines with Daimler Infiniti, the luxury division of Nissan Motor Company and opening a new field of cooperation.
o Sharing a diesel engine and a transmission of the Renault-Nissan Alliance for Utility Mercedes-Benz Vito.
• Collaboration in the field of commercial light vehicles
• simultaneous cross-shareholdings, corresponding to 3.1% of the capital of each company Page 2
• Additional potential synergies on joint purchases, exchange of benchmarks and best practices between the two groups.
The Renault-Nissan Alliance and Daimler AG today announced a broad strategic cooperation that will enable both groups to quickly take advantage of a number of concrete projects and to share best practices. The two groups also announced an equity exchange that will give to the Renault-Nissan Alliance a 3.1% stake in Daimler and Daimler a 3.1% in Renault and Nissan by 3.1% in .
According to Dr Dieter Zetsche, Chairman of the Board of Management of Daimler AG and Head of Mercedes-Benz Cars, "Daimler and the Renault-Nissan combine their interests in order to build a solid foundation for a successful and robust cooperation on the strategic plan, based on a number of concrete projects and attractive partnership. Our talents complement each perfectly. For now and for the long term, we are strengthening our competitiveness in the segment of small vehicles and compact vehicles, and reducing our CO2 footprint. We know we can design specific products from each brand of common architectures. This does not affect the identity of each brand. "
Carlos Ghosn, CEO of Renault-Nissan Alliance, said: "The Renault-Nissan Alliance has shown its ability to succeed partnerships. This experience is essential in today's automotive world and will be even more tomorrow. Page 3 The announcement today will allow us to extend our strategic collaboration and create value in a sustainable manner for the Renault-Nissan Alliance and Daimler. Together, we will broaden our product offering, optimize resources and develop essential for the next ten years innovative technologies. "
Strengths of the cooperative agreement
After detailed discussions, it was agreed to implement immediately a number of projects:
A new common architecture for small vehicles
The successor to the current smart fortwo, a new smart four-seater model and future Renault Twingo will be manufactured from a jointly developed architecture. All vehicles are different from each other in terms of design. A main feature of the new architecture lies in its drive concept from current smart vehicles.
The launch of these models developed in common is planned from 2013. The smart plant in Hambach manufacture the two-seater versions, while the Renault plant in Novo Mesto in Slovenia will be the production of four-seater versions. Of their launch in the market, these models are also available with electric.
Cooperation in the field of powertrains is focused on developing jointly by Renault-Nissan Alliance and Daimler highly efficient diesel and petrol engines in consumption
The Renault-Nissan Alliance will provide a Daimler engine 3 and 4 cylinder gasoline and diesel from its range adapted and modified according to the characteristics of Mercedes. It is a win-win partnership: Daimler engines may use the Renault-Nissan Alliance and capture additional business opportunities for its future range of compact premium vehicles Mercedes-Benz, while offering a the Renault-Nissan Alliance a better use of its production capacities.
Daimler will provide a Infiniti diesel and petrol engines from its current range: gasoline and diesel has 4 or 6 cylinder engines. Again, the partnership will be a win-win: Infiniti may use Daimler and Daimler will improve its industrial capacities engines.
Daimler, Renault and Nissan also will cooperate on future gasoline and diesel engines. The choice of assignments production of new engines developed jointly will be made subsequently, to ensure a good distribution between sites of different partners. In this area, the development Page 5 Technical ensure the safeguarding of identities and brand products of each partner, while offering highly competitive cost structures. Non-standardized solutions for identity piece will realize significant savings. In addition, each brand will use its own technology solutions, meeting the criteria of its brand.
A major objective is to increase the competitiveness of the partners to a volume effect, resulting in economies of scale, and cost sharing of development.
Collaboration in the field of commercial light vehicles
Manufacturers have also decided to work closely in the field of commercial light vehicles. As of 2012, Mercedes-Benz Vans will broaden its range of commercial light vehicles by introducing a new entry-level model. The technology of this van will come from Renault. It will be manufactured at the Renault plant in Maubeuge. Both partners will benefit from a volume effect, a better utilization of production capacities, sharing of investment and, therefore, better overall cost structure.
In addition, some components of the powertrain will be sharing to broaden the range of medium-sized commercial vehicles and increase sales volumes, including a diesel engine cylinder small and gearboxes supplied by Renault Daimler utility vehicle for its medium size, Mercedes-Benz Vito. This new entry-level engine all result in Page 6 additional sales for Mercedes-Benz and will contribute to the optimal use of production capacities of Renault.
Exchanges of shares
This strategic cooperation is reinforced by simultaneous cross shareholdings which enable manufacturers to realize three benchmarks and generate the synergies based on a partnership creator of value in the long term. The overall organization of this operation is based on the principle of a percentage ownership Cross-3.1 / 3.1 / 3.1 between Renault, Nissan and Daimler, materializing through the exchange of shares:
o Daimler will get 3.1% of newly issued shares by Renault;
o Daimler will get from Renault 3.1% of Nissan existing shares;
o Renault will get 3.1% of Daimler shares
o Renault will transfer 1.55% stake in Daimler Nissan, in exchange for 2% of Nissan shares;
o Renault and Nissan will each hold 1.55% of Daimler shares.
This strategic cooperation will be managed by Renault-Nissan BV for the Renault-Nissan Alliance and Daimler, through a committee representing the cooperation of parties. This committee of cooperation will be co-chaired by Carlos Ghosn and Dieter Zetsche and anime by executives of the three companies.
On 6 April, the market capitalization of Renault, Nissan and Daimler were respectively € 10.5 billion to € 29.7 billion and € 37.7 billion. The parties agreed to a clause cap equity 5 years.
Other opportunites collaborative Both groups intend to create a long-term framework to work closely in future areas of collaboration between Renault, Nissan and Daimler. After the signing of the strategic cooperation agreement and the implementation of the first major projects, each manufacturer will continue to explore opportunities to come, including the possibilities of exchanges of modules and components between Infiniti vehicles and Mercedes-Benz of Page 8 regional cooperations in the United States, China and Japan between Nissan, Infiniti and Daimler. Furthermore, Renault, Nissan and Daimler will explore opportunities for co-development of vehicle-related electrical and battery technologies.
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