Renault Ditches Mercedes-Based Luxury Sedan Plans
According to a Wall Street Journal report, Renault's plans for a flagship model we're ditched after "months of discussion", with the French company concluding that such a vehicle doesn't make financial sense.
"We haven't found a business model that works," Renault Chief Operating Officer Carlos Tavares said in an interview, adding that issues affecting sourcing, logistics and assembly were critical in revoking the project.
However, canceling the E-Class-based sedan doesn't mean that the Renault-Daimler cooperation, which also includes Nissan, has been completely halted.
The three automakers are already working on 10 projects, including a premium compact Infiniti based on a Mercedes-Benz platform slated to arrive in Europe in 2015.