The French-Japanese car-producing partnership Renault-Nissan and Germany's Daimler AG said Wednesday they had agreed a broad strategic cooperation.
The agreement will involve an equity exchange that will give the Renault-Nissan Alliance a 3.1-per-cent stake in Daimler and will give the German carmaker a 3.1-per-cent stake in both Renault and its Japanese parter Nissan, the companies said in a statement, DPA reported.
The agreement, which had been widely expected for weeks, will also involve cooperation on Daimler's next-generation smart fortwo and Renault's Twingo, including the electric versions.
The deal also calls for broad cooperation on future projects, such as the co-development of diesel and gasoline engines from the Renault-Nissan Alliance to be used in the new Smart and Twingo models and to be adapted for the new generation of Mercedes-Benz compacts.
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