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May 24, 2017

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Nissan, Renault to boost ties in US$3.8 bil. savings bid: report

TOKYO--Nissan and France's Renault are planning to boost their alliance by bringing together production as well as research and development in a bid to save about US$3.8 billion annually, a report said Friday.

Despite their close links — Renault is the Japanese automaker's biggest shareholder and they are both chaired by Carlos Ghosn — the pair have operated largely independently of each other, except on parts procurement and engine development.

The plan, reported by Japan's leading Nikkei business daily, would see the appointment in April of two directors charged with bringing the businesses closer together in a bid to slash about 400 billion yen (US$3.86 billion) in annual costs.

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