Renault and Nissan rule out merger as they unveil survival plan

Renault , Nissan Motor Co and Mitsubishi Motors Corp ruled out a merger on Wednesday and doubled down on a plan to cooperate more closely on car production to save costs and salvage their troubled alliance.

He also said existing ties with Germany's Daimler , which owns Mercedes-Benz, could be strengthened and that he hoped to make an announcement in the coming weeks. Senard said that would help cut costs, with joint savings on future compact sports-utility vehicles coming to 2 billion euros . "The way this plan has been designed is to avoid stepping on each others' toes, but there could be some efficiency losses, as there are boundaries they have to respect," said Chris Richter, senior research analyst at brokerage CLSA.

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