Renault and Nissan plan to increase cooperation and double their annual savings from their alliance to 4 billion euros ($5.2 billion) by 2016, according to sources familiar with the plan.
The new plan was presented by Carlos Ghosn, CEO of both carmakers, at an internal presentation to Renault and Nissan managers on September 25-26. The sources participated at these meetings but asked not to be identified because the target has not been published.
“Ghosn said we need to seek further synergies to get to double where we are today,” an alliance executive was quoted as saying by Reuters. Operational savings aside, Renault and Nissan are reviewing the crossed shareholdings underpinning their 13-year-old alliance. Discussions are at a preliminary stage, the sources added.
According to PwC data, VW built 3.8 million cars of 27 different models in 2011 from a single platform (the Golf), compared to Renault Nissan’s 2.6 million vehicles from its B-platform (the Clio). This is why Ghosn has raised pressure for closer Renault-Nissan integration by naming executives to oversee joint vehicle programs and production.
A spokeswoman for Renault-Nissan declined to comment on the savings goals or the alliance’s capital structure. Renault currently has 43.4 percent of Nissan, which in turn owns 15 percent of Renault.