In the latest sign of auto industry marriages, Mercedes-Benz' parent company Daimler and the Renault-Nissan Alliance made their relationship official today at a news conference in Brussels, Belgium.
The two groups announced a broad strategic cooperation that includes an equity exchange that gives the Renault-Nissan Alliance a 3.1% stake in Daimler, and Daimler a 3.1% in Renault and a 3.1% stake in Nissan.
The newly-wed trio also revealed that they have agreed upon specific projects including the sharing and development of common powertrains and vehicle platforms that will be implemented with immediate effect.
Under the agreement, the two groups will co-develop a new platform that will be used on the successor to the current Smart Fortwo, a new four-seater Smart and the next-generation Renault Twingo.
Oddly enough (at least for Renault), the two automakers said that one main characteristic of the new architecture will be the unique rear wheel drive concept.
The launches of the jointly developed models are planned for 2013 onwards with Daimler's Smart plant in Hambach, France to handle the production for the two-seater versions, and the Renault plant in Novo Mesto, Slovenia, to build the four-seater variants.
According to the two companies, the jointly developed future models will also be available with an electric drive right from their market launch.
Daimler and the Renault-Nissan Alliance will also share powertrains for other models.
In particular, The Renault-Nissan Alliance will provide 3- and 4 cylinder gasoline and diesel engines out of its portfolio to Daimler, which will then be adapted and modified to reflect Mercedes' characteristics. These engines will be used on a variety of small Mercedes-Benz models.
Daimler on the other hand will give 4- and 6 cylinder gasoline and diesel engines to the Renault-Nissan Alliance's luxury division, Infiniti.
The companies have also agreed on a close cooperation in the light commercial vehicle segment. Mercedes-Benz's Van division will expand its portfolio to offer an all-new entry-level LCV based on a Renault model in 2012. It will be produced at the Renault plant in Maubeuge, France.
In addition to cooperating on small commercial vehicles, selected powertrain components will also be shared to enlarge mid-size vans. This includes a small diesel engine and transmissions which Daimler will obtain from Renault-Nissan for its mid-size van, the Mercedes-Benz Vito.
Finally, the two groups said that they are open to "future opportunities for collaboration" including the use of modules and components between Infiniti and Mercedes-Benz vehicles, regional cooperation in the United States, China and Japan as well as the development of technologies related to electric vehicles and batteries.
Here's what the bosses over at Daimler and the Renault-Nissan Alliance had to say about the "marriage":
Dr. Dieter Zetsche, Chairman of the Board of Management of Daimler AG and head of Mercedes-Benz Cars:
"Daimler and the Renault-Nissan Alliance are combining common interests to form a promising foundation for a successful, strategically sound cooperation that is based on a number of very concrete and attractive project cooperations. Our skills complement each other very well. Right away, we are strengthening our competitiveness in the small and compact car segment and are reducing our CO2 footprint – both on a long-term basis. We know that we can make brand-typical products based on shared architectures. The individual brand identities will remain unaffected."
Carlos Ghosn, Chairman and CEO of the Renault-Nissan Alliance:
"The Renault-Nissan Alliance knows how to work successfully in collaborative partnerships, and this experience is extremely valuable in today's and even more tomorrow's global auto industry. This agreement will extend our strategic collaboration and create lasting value for the Renault-Nissan Alliance and Daimler as we work on broadening and strengthening our product offering, efficiently utilizing all available resources and developing the innovative technologies required in the coming decade."
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