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Renault and Nissan Tighten Embrace to Boost Earnings

Partners target $6 billion in new synergies.

by on Mar.04, 2016

Renault-Nissan Alliance CEO Carlos Ghosn sees more opportunities for savings.

Already one of the most successful partnerships in automotive history, the Renault-Nissan Alliance is targeting an additional $6 billion in new “synergies” by 2018, the two carmakers announced Friday.

The plan comes as something of a victory lap for Carlos Ghosn, the Brazilian-born executive who serves as CEO of the two companies. Late last year, he beat back a push by the French government, a major investor in Renault, which threatened to fracture the Euro-Asian alliance.

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“The auto industry is rapidly evolving, requiring Renault and Nissan to leverage the Alliance as a pragmatic business tool,” said Ghosn in a prepared statement.