Breaking news: GM, Renault, Nissan Issue Joint Statement about today's meetings

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.

chewy - 7/14/2006 11:40:46 PM

+1 Boost

So, basically nothing happened.

courtstone - 7/15/2006 7:49:35 AM

+2 Boost

I guess not chewy. today we read an article saying this and the next day something else. i'll be glad when they just reach a conclusion.

wwww - 7/15/2006 6:50:54 PM

+2 Boost

Let me take a WILD GUESS of what their discussion is about:

Alliance will give the new company the title of the Industry's BIGGEST Automaker's (#1 in size) and Toyota can never reach that status unless they start buying Ford.

Also, better profitbility for all three companies when they integrate the best "genes" together and try and eliminatte the Bads ( Reliability and the Heavy Overhead cost of the UAW laws and restrictions)

So in the end, they could achieve Nicer design by inducing Reanult/European styling and engineering along with Efficiency of Japanese working habits (if they do fully utilize the scheme in America), and using relatively cheaper in Price materials of American industries (price per unit of autoparts are relatively cheaper in america) and use some of the Korean labour force and realibility. Also be able to afford the R&D of new fuel systems and tech on their cars.

Only drawback is the product overlap, if they can solve that problem..then everyone is happy.