Renault and Nissan intend to invite GM to join the Renault-Nissan Alliance

Xinhua News Agency, New York, June 30th: General Motors' third-largest shareholder, Kirk Kirkian, said on the 30th that Renault and Nissan Motor Co. are interested in inviting GM to join the current Renault-Nissan alliance.

Kircion’s investment company, Trasinda, stated in a letter to GM CEO Rick Wagner that Renault and Nissan were interested in the invitation to GM to join their alliance and to purchase a certain amount of general-purpose stocks. Interested.

Trasinda said in a letter to Nissan’s CEO Carlos Ghosn and Renault’s chairman Louis Schweitzer that day: “I believe that the alliance between the three companies will enable them to compete in an increasingly competitive international market. Significantly increase competitiveness."

Trasinda, which currently holds 9.9% of General Motors, is the third-largest shareholder in GM. The company said on the same day that Renault and Nissan have "given a tremendous synergy between design, manufacturing and market to both parties, resulting in huge profits and reduced costs." Therefore, the company will urge the GM board to consider this cooperation proposal.

GM issued a statement on the same day that the board will seriously consider this proposal, but currently has not received any plans and offers from Renault and Nissan.

Nissan also issued a statement on the same day, saying that Ghosn has been in contact with senior executives of Kirkian and Telsinda to discuss and evaluate the synergies between the three companies after the joint venture.

Analysts pointed out that this may be the beginning of the acquisition of Chrysler by Daimler-Benz in 1998, and the beginning of a major merger or joint event in the automotive industry. JP Morgan analyst Patel believes that if GM agrees to join Renault and Nissan, it will be a long-term positive news for GM shareholders. However, some analysts believe that due to the excessive number of issues involved, the possibility of joint cooperation among the three parties is unlikely.

Currently, Renault holds a 44.4% stake in Nissan, Nissan holds a 15% stake in Renault, Nissan said it and Renault is an "open cooperative relationship." (Finish)
View related topics: Dongfeng Renault project tracking report

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