Renault Chairman Vows To Strengthen Nissan Alliance

(RTTNews) - French car-maker Renault's (RNSDY.PK, RNSDF.PK, RNT.L) chairman Jean-Dominique Senard said that the company's priority is more than ever to ensure sustainability of the alliance with Nissan and to continue to improve its performance, after a proposed merger with Fiat Chrysler failed last week.

"Today, the alliance is making a fresh start. There can be no success for Renault without the success of the alliance," Senard said during the company's shareholder meeting.

It was Renault's first AGM since the arrest last November of former chief executive Carlos Ghosn, who built up the alliance between Renault, Nissan and Mitsubishi.

Senard defended his attempt to merge French car-maker with Fiat Chrysler, and criticized the French government for not supporting the merger.

Last week, Fiat Chrysler withdrew its proposal to merge with Renault saying that political conditions in France did not support the proposal.