September 28, 2006

Alliance discussion between GM and Nissan/Renault all talk, but no action yet

Detroit, Michigan – General Motors and Nissan have jointly released a statement saying that a meeting has been held regarding the possibility of creating an industrial alliance between GM, Nissan and Renault. The statement says that a meeting was held between Carlos Ghosn, President and CEO of Renault SAS and Nissan Motor Company Ltd., and Rick Wagoner, Chairman and CEO of General Motors Corp., regarding ongoing discussions.

“Through the work of the three study teams, our companies continue to explore the potential opportunities of an industrial alliance,” the statement reads. “The teams are conducting a thorough and objective analysis of potential synergies between all three companies with a focus on how an alliance could generate significant shareholder value for each company.”

Last week, Reuters news agency reported that Nissan/Renault may start alliance talks with Ford if the GM discussions fall through.

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