PARIS (Thomson Financial) - Renault's chief executive Carlos Ghosn said a tie-up with General Motors is not currently on the cards, but that the 'strategy is inevitable' in the long-term.
Speaking in an interview with Le Figaro, Ghosn said conditions for a merger are not right at present because there seems to be little appetite for it at GM.
He said Renault is focusing on its Commitment 2009 plan and Nissan, an affiliate, is busy with its Value Up project.
However, once both groups are back on track, with high profitability and growth, 'anything is possible', he said.
Renault and GM previously considered an alliance, but abandoned discussions last year.
Asked about the group's other expansion plans, Ghosn reiterated that it is not interested in Volvo and ruled out any moves on Jaguar, both of which are owned by Ford Motor Co. vicky.buffery@thomson.com vb/wj COPYRIGHT Copyright AFX News Limited 2007. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
© 2007 AFX News
