General Motors does not need a partner to complete its recovery, CEO Rick Wagoner said today.
"GM sells more than 9 million vehicles a year globally. It's not logical or responsible to say we must have a partner to recover," Wagoner said in an interview with Automotive News at the Paris auto show.
Yet the automaker is always on the lookout for opportunities, Wagoner said.
GM is studying whether to join the Nissan-Renault alliance at the urging of billionaire investor Kirk Kerkorian. Wagoner met with Carlos Ghosn, CEO of Renault SA and Nissan Motor Co. Ltd., in Paris on Tuesday, Sept. 26, to review the progress of study teams and to set Oct. 15 as the date to make a decision.
"Our interest in this or other deals is whether it creates a capacity to sell more vehicles," Wagoner said.
At the same time, Wagoner noted that GM has had success with single-project tie-ups with other automakers. Examples are a joint venture with DaimlerChrysler AG and BMW AG to develop hybrid powertrains for rear-drive vehicles and a venture with Ford Motor Co. to develop six-speed automatic transmissions.
"One advantage for us (discussing alliances and joint ventures) is that we have lots of experience, and we know a lot about what works for us," Wagoner said. "The Fiat powertrain deal worked well, but the equity deal and the put option" didn't work. Fiat had new management and wanted to go in a different direction, he added.
Also on the subject of alliances, Wagoner said there have not been any new talks with Ford Motor Co.
"In this business these days, who knows?" Wagoner said. But he added that there have not been any meetings between Ford and GM on the subject since last summer.
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