Convergence includes integrating divisions, creating common processes, exchanging talent and other significant sharing of resources. Convergence helped Renault and Nissan generate more than €4 billion in annualised synergies in calendar-year 2015. The Alliance now aims to generate €5.5 billion in synergies in 2018.

Through the end of March, Renault and Nissan executives will present these convergence projects to appropriate employee representation and corporate decision-making bodies. If approved at the end of an internal review process, implementation will begin 1 April.

Renault and Nissan share an industrial footprint with numerous cross-manufacturing projects in France, South Korea, India and Russia. In addition, engineers at Renault and Nissan – which have a combined annual R&D and capital expenditure fund of €10 billion — work together as one team to reduce duplication in the development of next-generation technologies.

“The auto industry is rapidly evolving, requiring Renault and Nissan to leverage the Alliance as a pragmatic business tool,” commented Renault-Nissan Alliance CEO and chairman Carlos Ghosn. “The road ahead is one of more convergence, working more closely together.”