Earlier this week we reported that the Renault-Nissan was keen to form an alliance with one of America’s Big Three, with either Ford Motor Company [NYSE:F] or Chrysler the most likely contender considering talks between the French-Japanese duo and General Motors Company [NYSE:GM] failed last year. According to a report by Reuters, Renault and PSA Peugeot Citroën will be strengthening their existing ties.
Several meetings between the two groups have already taken place, with Renault's second in command, Patrick Pelata, and PSA’s new heads of strategy, innovation and programs, Isabel Marey-Semper and Gregoire Olivier, reported to have been in attendance.
Neither side was willing to comment but an insider revealed that the two automakers had been meeting regularly. PSA and Renault first worked together back in 1969 with the creation of a 50-50 joint venture to develop a range of V-6 engines and automatic gearboxes.
We can only guess at what was discussed at the latest meetings but the smart money is on hybrid tech. The French firms must have felt left out after industry giants DaimlerChrysler, BMW and GM joined up to develop their own hybrid technology.