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Nissan, GM, Renault Continuing Alliance Talks

Alliance among the three automakers would create auto giant with annual production of 15 million vehicles.

TOKYO (AP) — Nissan is continuing negotiations with General Motors Corp. and Renault SA over a possible alliance said Nissan co-chairman Itaru Koeda on Wednesday.

Koeda, Speaking to reporters at an event to celebrate the production of Nissan's 100 millionth vehicle, also said that the companies would be using advisers to help examine possible synergies from an alliance.

''We don't know if we will choose only one adviser or if each of us will choose (our own respective advisers),'' Koeda said.

In July, the three auto manufacturers agreed to conduct a 90-day review of the potential benefits of an alliance. The alliance could create an automobile giant with a combined annual production of 15 million vehicles.

The study came after GM shareholder Kirk Kerkorian, who owns a 9.9 percent stake in the company through his investment firm Tracinda Corp., called for the car makers to pursue an alliance.

Carlos Ghosn, the chief executive of Renault and Nissan, has said the benefits from an alliance would be similar to the gains from the Renault-Nissan alliance, which have included cost savings from joint purchases of auto parts.

At the same event, Nissan Chief Operating Officer Toshiyuki Shiga said he doesn't know yet exactly when the outcome of the study will be disclosed.

Renault has a 44.4 percent stake in Nissan, which has a 15 percent stake in the French auto maker. Discussions on the possible partnership by the three automakers are expected to conclude by mid-October.