The two companies are undergoing intensive restructuring plans for their respective North American divisions in an attempt to turn around the recent string of financial losses. Last year, GM loss a total of $10.6 billion and was previously in negotiation talks with Renault-Nissan, which came to an end last month.
Lutz told reporters that GM would have benefited far less from the tie-up than Nissan and Renault and understandably decided to halt the proceeding. There were rumors that the French-Japanese partnership were also considering dealing with Ford, but its CEO Carlos Ghosn ending it all with his announcement last week that it would give up on a third partner for now.