GM Recovery Not Dependent On Nissan-Renault Deal

Sept. 28, 2006

Rick Wagoner, CEO of GM said Sept. 28 the success of the company's recovery plan was not dependent on the formation of a global alliance with Renault-Nissan. "We are very directly looking at the idea (of a tie-up) but our turnaround is not based on this happening or not," Rick Wagoner said at the Paris Motor Show. He said that "progress is being made" in the talks between his company and Renault-Nissan.

Wagoner met Carlos Ghosn, the chief executive of French car group Renault and Nissan of Japan, on Sept. 27 and the two men said they would continue their talks on a tie-up despite reports the negotiations were in trouble. "There are no problems," Ghosn insisted Sept. 28. "We are trying to bridge the differences between the two teams."

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