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July 15, 2006

GM, Renault, Nissan Issue Joint Statement

Exploring a motor companies industrial alliance.

GM World Headquarters Detroit.
GM World HQ Detroit

DETROIT -- General Motors, Renault and Nissan today said that an exploratory discussion was held between Carlos Ghosn, President and Chief Executive Officer of Renault, SAS and Nissan Motor Co., Ltd., and Rick Wagoner, Chairman and Chief Executive Officer of General Motors, Corp., regarding the possibility of creating an industrial alliance among these three companies. The companies agreed to cooperate in an expeditious, confidential review of the potential benefits of such an alliance to each company and the feasibility of achieving them.

“We had a good discussion today, and are looking forward to having our teams work together to explore our ideas,” said Wagoner and Ghosn. “It is important to let our teams work on this review without distraction and, therefore, we will not be providing further public comments about it at this time.”

It is expected that this review will take approximately 90 days. Following this review, the companies will consider whether further exploration of the alliance concept is warranted.


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Edited & Posted by Surender Hastir | 11:42 AM | Link to this Post


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