Report: Renault-Nissan, Daimler to announce partnership this week

In a move that could save the companies "billions of euros" per year, Renault-Nissan and Daimler will reportedly sign an equity swap alliance later this week. The agreement will be far reaching, covering everything from small cars to luxury models.

According to the latest reports out of Europe, Renault-Nissan and Daimler will announce a new partnership and equity swap as early as Wednesday. The equity exchange will be more symbolic, however, with the companies exchanging shares between 3 and 4 percent.

Although the small equity swap won't lead to a full integration, the Renault-Nissan-Daimler alliance will show results across the board. Daimler is said to be interested in Renault's small car technology - particularly that underpinning the Clio and Twingo - for its new Smart minicar, while Nissan's Infiniti luxury division could gain access to Daimler's engine technology through the agreement. The deal will also include co-development of commercial vehicles, gas and diesel engines, hybrid technology and hydrogen fuel-cell systems. Once in place, the deal should save the companies "billions of euros".

Renault currently holds a 44.3 percent stake in Nissan, while the Japanese automaker owns a 15 percent stake in Renault.

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