UPDATE 1-Renault, Nissan extend joint procurement pact

Newswire

(Adds background, details of IT venture at end) 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 most of the new parts being used in powertrains (the engine and transmission ...

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