The new agreement also includes the manufacture of a Mitsubishi-branded van based on its traffic sold in the Oceania region. The new agreement contains a number of initiatives to promote cooperation between the three companies while ensuring that they remain separate entities. In particular, each brand will be the leading “reference company” in a given region: Nissan in China, Renault in Europe and Mitsubishi in Southeast Asia. The strategic partnership between Renault, Nissan and Mitsubishi is not a merger or acquisition. The three companies will be merged through a cross-sharing agreement. The structure was unique in the automotive industry during the consolidation trend of the 1990s and later served as a model for General Motors and the PSA Group and Mitsubishi, as well as the Volkswagen Group and Suzuki, although the latter combination failed.  The alliance itself has significantly expanded its scope and entered into additional partnerships with car manufacturers such as Daimler in Germany, Dongfeng in China and AvtoVAZ in Russia.  Mr. Ghosn continued: “I want to thank everyone who helped us reach today`s agreement for their hard work, constructive spirit and business vision.
We look forward to all parties once again focusing on day-to-day operations in order to generate sustainable growth for Renault and Nissan and increase performance through additional alliance synergies. The agreement aims to bring together each party`s strengths and expand expertise by assessing market opportunities and exploring commercial, legal and regulatory issues related to driverless transport services in France and Japan. The Renault-Nissan-Mitsubishi alliance, with a global presence and portfolio spanning all light commercial vehicle and passenger segments, is unique in connecting this commercial exploration to Waymo, an autonomous technology company that builds the world`s most experienced driver with more than 10 million miles on public roads. The agreement aims to bring together each party`s strengths and expand expertise by assessing market opportunities and exploring commercial, legal and regulatory issues related to driverless transport services in France and Japan. Renault plans to enter the Chinese market with Dongfeng and sign a memorandum of understanding in April 2012.  Renault plans to start vehicle production in China by 2016. . . .