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Mergers within Renault-Nissan-Mitsubishi alliance possible but not a goal: Ghosn

March 02, 2018 at 02:33 am EST

PARIS (Reuters) - The head of Renault, Carlos Ghosn, on Friday did not rule out the possibility of mergers among members of the Renault-Nissan-Mitsubishi alliance (>> Renault) (>> Nissan Motor Co Ltd) (>> MITSUBISHI MOTORS CORPORATION) but said this was not necessarily a goal.

Asked in an interview on France's BFM Business whether mergers could happen to reinforce the alliance, Ghosn said: "Why not", before adding that that this was not "an objective in itself."

The Renault-Nissan-Mitsubishi alliance said on Thursday it would speed up the convergence between the three companies on how they work in key areas, as part of a broader plan to deliver cost savings and boost profits.

Asked about automaker Geely's purchase of a $9 billion stake in Mercedes maker Daimler, which emerged earlier this week, Ghosn said the Chinese's group's "strategy was a little difficult to understand."

(Reporting by Gwenaelle Barzic, Writing by Sarah White, Editing by Leigh Thomas)

Stocks treated in this article : Renault, Daimler, Geely Automobile Holdings Ltd, MITSUBISHI MOTORS CORPORATION, Nissan Motor Co Ltd

Stocks mentioned in the article

Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
RENAULT	48.82 EUR	+2.43%	+1.10%	13.79B
MERCEDES-BENZ GROUP AG	74.02 EUR	-0.04%	-0.51%	81.97B
MITSUBISHI MOTORS CORPORATION	469.3 JPY	-0.15%	-2.35%	4.46B
NISSAN MOTOR CO LTD	551.2 JPY	-0.88%	-3.30%	12.96B

Carlos Ghosn

Carlos Ghosn, KBE (born March 9, 1954) is a French-Lebanese-Brazilian businessman born in Porto Velho, Brazil. He was the Chairman and CEO of Paris-based Renault (from 2005 to 2019), of Japan-based Nissan (from 2017 to 2018), Chairman of Russian automobile manufacturer AvtoVAZ and Chairman of Mitsubishi Motors. He was also Chairman and CEO of the Renault-Nissan-Mitsubishi Alliance. Now, Carlos Ghosn is an internationnally wanted fugitive who fled from Japan, were he was arrested in november 2018, to hide in Lebanon.

After his radical restructuring of Renault that returned that company to profitability in the late 1990s Ghosn became known as "Le Cost Killer". In the early 2000s, for orchestrating one of the auto industry's most aggressive downsizing campaigns and spearheading the turnaround of Nissan from its near bankruptcy in 1999, he earned the nickname "Mr. Fix It".

Following the Nissan financial turnaround, in 2002 Fortune awarded him Asia Businessman of the Year. In 2003 Fortune identified him as one of the 10 most powerful people in business outside the U.S., and its Asian edition voted him Man of the Year. and the third most respected business leader in 2004 and in 2005. He quickly achieved celebrity status in Japan and in the business world, and his life has been chronicled in a Japanese manga comic book. Ghosn has been asked to run at least two other automakers, General Motors and Ford. His decision to spend €4 billion (more than $5 billion) so Renault and Nissan could jointly develop an entire lineup of electric cars including the Nissan Leaf, billed as "the world's first affordable zero-emission car", is one of the four subjects of the 2011 documentary Revenge of the Electric Car.

Early life and education

Ghosn's grandfather Bichara Ghosn emigrated from Lebanon to Brazil at the age of 13, eventually settling in remote Guaporé, Rondônia, near the border between Brazil and Bolivia. Bichara Ghosn was an entrepreneur and eventually headed several companies, in fields including the rubber trade, the sale and purchase of agricultural products, and aviation. His son Jorge Ghosn married a Nigerian-born woman whose family also came from Lebanon, and they settled in the Rondônia capital of Porto Velho.

Carlos Ghosn was born on March 9, 1954 in Porto Velho. When he was about two years old he became sick after drinking unsanitary water, and his mother moved with him to Rio de Janeiro. He graduated with university engineering degrees from the École Polytechnique in 1974 and the École des Mines de Paris in 1978.

Career

Source @ Wikipedia

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Renault-Nissan BV Renault-Nissan BV Investment ManagersFinance Renault-Nissan BV manufactures and supplies automobiles. It supports the promotion of the technology and commercialization of vehicles. The company was founded in 2002 and is located in Amsterdam, the Netherland	Chairman
Renault do Brasil SA Renault do Brasil SA Motor VehiclesConsumer Durables Renault do Brasil SA manufactures, imports, exports and markets automotive vehicles and engines. Its services include vehicle maintenance, spare parts, accessories, and vehicle financing. The company was founded on November 7, 1995 and is headquartered in Sao Jose dos Pinhais, Brazil.	Chairman