PARIS – Renault plans to create a premium sub-brand of some of its models in an attempt to increase profits, Chief Operating Officer Carlos Tavares confirms. At the same time, he tells The Wall Street Journal Renault is abandoning its 3-year-old luxury-car alliance with Germany’s Daimler. Renault was to help Mercedes make basic small cars and vans, while Daimler would guide the French auto maker in creating large prestige models. However, the Renault-Nissan partnership with ...

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