Renault and Nissan rule out merger as they unveil survival plan

Paris: 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. The companies have been hit hard by the coronavirus pandemic just as they were trying to rework their partnership following the arrest of its chief architect, Carlos Ghosn, who had been pushing for a merger despite stiff resistance from Nissan. The new plan, which entails cutting the alliance's vehicle ranges by a fifth, pooling manufacturing by region and capitalising on joint designs, is meant to serve as a peace treaty, sources have told Reuters. "We don't need a...