GM wants money from Nissan, Renault
The latest round of reports coming out of the Nissan-Renault-GM talks are quite sensational. Although there have been hints that Ford is on Carlos Ghosn’s speed dial should things go sour with GM, according to the latest newsletter from the American International Automobile Dealers Association (AIADA) General Motors is going to tell Nissan and Renault today that their proposed deal looks good. As long as they can cough up a few billion dollars to secure the three-way alliance.
GM feels it would need the money as compensation because it would be bringing much more to the table in any partnership between the three, reports The Wall Street Journal. This doesn’t sound like a simple request to get the i’s dotted and t’s crossed. Whereas Renault-Nissan CEO Carlos Ghosn wishes to have an alliance involving taking big stakes in GM, such a deal is unlikely.
GM Chief Rick Wagoner will go before his board of directors on Oct. 3, to outline his analysis of the proposed alliance, showing how it would favor Nissan-Renault more than GM. A final decision is expected by October 15.
[Source: The Auto Channel]
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