JOIN USAs part of the agreement, Renault-Nissan Alliance will pick up 3.1 per cent stake in Daimler and Daimler 3.1 per cent in Renault and another 3.1 per cent stake in Nissan.
The three-way alliance also envisages co- operation in small vehicles, powertrain and light commercial vehicles (LCVs) development.
Common platform
Under the agreement, the alliance will develop a common platform for Daimler and Renault’s small cars, ‘smart fortwo’ and ‘Renault Twingo’, including electric versions.
The alliance will include sharing of diesel and petrol engines, with Renault-Nissan alliance supplying 3 and 4 cylinder engines for Daimler’s future premium compact cars.
Daimler, in turn will provide 4 and 6 cylinder engines to Nissan’s luxury brand Infiniti. Renault-Nissan will also provide their diesel engine and transmission for Daimler group firm Mercedes-Benz’ mid sized van, Vito. Renault will also provide technology for a new entry level commercial vehicle by Mercedes Benz, expected to be commercialised by 2012.