Renault not interested in Volvo

Posted Wed Aug 29 2007 10:13 AM by Viknesh Vijayenthiran

Renault-Nissan CEO Carlos Ghosn has revealed that he has no interest in acquiring the Volvo unit from Ford, despite having wishes to form an alliance with an additional carmaker. Though he commented that he’d never completely rule out the possibility, he said that at this time he'd rather invest any resources into Renault-Nissan’s existing brands and products.

A new brand is not what Renault needs at the moment, instead it needs “new products and technology” Ghosn told MarketWatch. Ford, meanwhile, has revealed that it’s conducting a strategic review of Volvo and it’s tipped to sell the Swedish carmaker following the sale of its Jaguar and Land Rover labels.

As recently as July, Ghosn admitted to be still in favor of a tie-up with one of the Detroit 3 carmakers despite the fallout in talks with GM late last year. In that same time, Renault has also commenced talks with India’s Bajaj to produce low-priced models for the Indian market.

MotorAuthority