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11/29, 9:35 AM (Source: TeleTrader)
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Renault-Nissan-Mitsubishi to revitalize alliance

Groupe Renault, Nissan Motor Co. Ltd., and Mitsubishi Motors Corp. announced on Friday plans to reinvigorate their alliance in the aftermath of former CEO Carlos Ghosn's arrest.

The companies said they will appoint a general secretary who will "be the key for coordinating and facilitating several major alliance projects that are to be launched to accelerate business efficiencies for the respective companies." The executive will report to the alliance's operating board and CEOs, the companies said, adding more details will be announced in the coming weeks.

Previously, Renault's interim chief executive officer Clotilde Delbos stated the French carmaker couldn't survive without the alliance with Nissan and Mitsubishi.

Breaking the News / MD