Nissan, Renault to Form World’s Fourth Largest Automaker; Or Not

Nissan, Renault to Form World’s Fourth Largest Automaker; Or Not
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Nissan and Renault are planning to officially combine into one automaker, solidifying a partnership between the Japanese and French companies that has existed since 1999. Or at least, they were planning to do so according to a report by Japan’s Nikkei, that quoted company CEO Carlos Ghosn. Today, however, both automakers are refuting that claim.

A statement released jointly by the two automakers claims that the Nikkei article was, “a misinterpretation of a wide-ranging interview in which Mr. Ghosn said that the corporate structure of the Renault-Nissan Alliance would remain dynamic,” and that “There are no plans to create a holding company, and in fact Mr. Ghosn did not say that Renault and Nissan are ‘leaning toward establishing a holding company.”

If a tie-up were to occur, it would bring together two of the world’s larger automakers for a combined annual output of around 7 million vehicles. That would put it in direct competition with Volkswagen, which currently holds the title of being the world’s 3rd largest automaker with 7.14 million units sold last year. First and second place, held by Toyota and GM, are still comfortably out front with 8.42 million and 8.39 million units respectively.

[Source: Reuters]