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GM Approves Talks With Renault, Nissan

Board of Directors moves forward with discussion on alliance with Renault and Nissan

General Motors' Board of Directors gave approval Friday to start discussing the possibility of an alliance with Renault and Nissan.

"The GM Board of Directors authorized management to proceed with its plan to consider ideas the other two companies have and to weigh the potential benefits of such an alliance in order to assist the Board in its decision making," said GM Director George Fisher.

GM Chairman Rick Wagoner will be leading the discussion.

"General Motors has a lot of experience with different types of alliances, and some have provided significant benefits to GM's competitive position and financial strength," said Wagoner. "We will enter into discussions with the managements of Renault and Nissan with an open mind - eager to hear their ideas of how an alliance between our companies might work to our mutual benefit. Given the complexity of any potential relationship, it has to be carefully considered on its merits before coming to any conclusion. We are committed to an objective and thorough review of that potential."

While the alliance talks proceed, GM says it wants to continue to focus on implementing its North American turnaround strategy.