|LOS ANGELES - Renault and Nissan Motor Co. are to join with
Ford Motor Company, General Motors Corporation and DaimlerChrysler as an equity partner in
the new "business to business" Internet exchange company, the largest online
exchange platform between automakers and equipment manufacturers.
Three Advisory Boards
are to be set up in North America, Europe and Asia. Renault and DaimlerChrysler will set
up the European Advisory Board while Nissan will create and lead the Asian Advisory Board.
Renault and Nissan will form a joint team, working alongside their partners' teams in the
development of the exchange platform.
The agreement is perfectly in line with the strategy of profitable growth being pursued
by Renault and Nissan. The new company now brings together five of the world's largest
automobile manufacturers, with overall direct purchasing power of $300 billion. The
business potential of the platform as a whole, including both auto and parts makers,
represents more than $1,000 billion. The services provided will not just be limited to
procurement activities. They will speed up exchanges and allow joint work to be developed
between manufacturers and suppliers. By promoting the integration of components suppliers
in the products and production tools development process, the online exchange system will
make a strong contribution to the performance of automakers and suppliers, reducing
development lead times and cutting costs. Finally, these services will be available to all
those involved in the supply chain, both buyers and sellers.
(April 13, 2000)