Renault, Nissan to extend joint procurement pact

Newswire

PARIS, June 28 (Reuters) - Renault SA and Nissan Motor Co said on Friday they had agreed to take their car-making alliance a step further by jointly buying a greater proportion of components. In a statement, the French and Japanese manufacturers said joint purchasing would be increased to an annual value of $21 billion from approximately $15 billion currently, with the additional volume concerning mainly powertrains. Common purchasing, which brings unit cost savings and gives the two ...

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