Heads of GM, Renault and Nissan to meet this week
Carlos Ghosn, the head of Nissan and Renault, and General Motors CEO Richard Wagoner plan to hold talks this week in Paris as they continue to assess the possibility of an alliance among the three automakers, Nissan said Monday.
"We can confirm that they will meet this week in Paris," Nissan spokeswoman Mihoko Takeda said. "But we are not providing any further details at this time."
Kyodo news agency said it was unclear whether the meeting would happen before the opening of the Paris Motor Show, which starts Thursday with a media preview.
In July, Detroit-based General Motors Corp., Renault SA of France and Nissan Motor Co. of Japanannounced a 90-day consideration of an alliance; the French and Japanese carmakers already have ownership links and share CEO Ghosn.
GM, stumbling amid intense competition from Asian rivals, has announced plans to close 12 plants by 2008, slash its workforce and cut costs.
The automakers are expected to decide by Oct. 15 whether to go ahead with a partnership, Kyodo said.
Over the weekend, the Yomiuri newspaper reported that the companies are unlikely to form a capital alliance because of reluctance on the part of GM, whose U.S. sales have shown recent signs of a recovery.
GM employees and union leaders have also voiced opposition to the possible capital linkup with the Nissan-Renault group, the report said, citing unidentified officials.
But the American company could still co-operate with the French-Japanese group in buying parts and materials, the report said.
Nissan has been making solid profits after a dramatic Ghosn-led turnaround, but recently acknowledged it has been selling fewer vehicles around the world because of a dearth of new models.