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New partnership worrying Volvo Group owners
Renault, Nissan and Daimler are launching a partnership that will provide synergies in the development of new small cars and light trucks. The partnership/alliance will be confirmed by each group buying 3.1% of the shares in the partner group.
The establishment of closer relations with Daimler can put Renault - which is one of the main shareholders in the Volvo Group (21.3%) - in a sensitive position, as Daimler is the Volvo Group's biggest competitor on the global market. The word in financial circles is that Renault is already preparing for the sale of a large portion of its holding in the Volvo Group.
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