French automaker Renault will end a partnership with UK’s Caterham Group to build sports cars before any of the planned vehicles come to market.
According to an unnamed person familiar with the matter cited by Bloomberg, Renault is expected to inform employee representatives later this week of the decision. Neither Renault nor Caterham would comment on their joint venture, called Societe des Automobiles Alpine Caterham (SAAC).
Despite the partnership’s reported termination , Renault will continue the revival of the Alpine sports car brand on its own, the source said.
Renault and Caterham announced in November 2012 a 50:50 arrangement to design, develop and build sports cars, with initial plans being to roll out the first vehicles by 2016. However, the two companies decided to split ways due to differing views on the development of the vehicles.
Earlier this year, Renault ordered a redesign of the Alpine sports car, unhappy with reactions of potential customers. The decision has delayed the project by a year and was not received well by Caterham, who has already approved the final design for its version of the car.
Renault and U.K.-based Caterham announced in November 2012 a 50-50 arrangement to design, develop and build sports cars. At the time, the companies said they planned to roll out the first vehicles by 2016. British online media site Autocar reported over the weekend that the venture was ending due to differing views on the development of the vehicles.
-attached images showing the Renault Alpine A110-50 Concept
by Mircea Serafim
) - Tuesday, March 25th, 2014 - filed under Industry
. Image credit: .
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