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Renault-Nissan still looking for U.S. alliance, supports Detroit 3 bailout

 
1 1,887 views Nov 19, 2008

Renault-Nissan Carlos Ghosn pledged his support for a Detroit 3 bailout at the Los Angeles Auto Show today

Renault-Nissan Carlos Ghosn pledged his support for a Detroit 3 bailout at the Los Angeles Auto Show today

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Speaking at the Los Angeles Auto Show today, the boss of Renault-Nissan Carlos Ghosn has reaffirmed his company’s need for a “full North American partner” and pledged support for more federal aid for the Detroit 3 as a way to fuel growth in the industry.

While Renault-Nissan is hopeful of one day forming an alliance with one of the Detroit 3 carmakers, Ghosn stressed that now was not the time but the move is still an important one. “No alliances, acquisitions or mergers can take place in the automobile industry, or really any industry for that matter, until the storm in the economy is gone,” he explained.

Of the three Detroit carmakers, Ghosn confirmed that Chrysler was the most attractive option, reports the Associated Press. However, a lack of “mutual affection” has so far halted any progress of an alliance with the Auburn Hills company.

Ghosn revealed that Renault-Nissan can supply Chrysler with small cars because it has several platforms already fully developed. He didn’t mention if his company was interested in acquiring the Jeep brand, which was speculated in the media recently.

As for increased federal support for the struggling Detroit 3, and similar efforts for European carmakers, Ghosn said financial aid was important to "transform" the auto industry for growth. He mentioned the fact that even Triple-A credit rated companies were having trouble getting finance in the current climate. This funding is necessary to develop a new generation of electric and other alternative fuel vehicles. Otherwise the introduction of such vehicles could be delayed by several years, he explained.



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Comment (1)

  1. ma_NoNameDenton avatar NoNameDenton Posted: 11/19/2008 1:05pm PST

    His best bet is to go after Chrysler, since GM will probably not sell out and Nardelli is so desperate he said he would work for one dollar.
     
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