Talks between General Motors, Renault and Nissan end on a disappointing note

Talks between General Motors, Renault and Nissan end on a disappointing note

General Motors, Renault and Nissan have said that the talks between them are now over as they could not settle on the demands made by GM on compensation on their collaboration.

The three companies said in a joint statement: “The parties mutually recognized that significant aggregate synergies might result from the alliance. However, the parties did not agree on either the total amount of aggregate synergies or the distribution of those benefits.”

GM decided on Tuesday that the proposed alliance was not in the best interest of the company’s shareholders. The company had earlier demanded that they should be compensated for getting into such an alliance as they were going to get the least benefits from such a deal.

The company is struggling in their home market of USA where Japanese and South Korean companies are dominating with their automobile products.