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Renault, Nissan join Big Three's buyer exchange

Published on .

One day after Volkswagen AG spurned the online supplier exchange being formed by Ford Motor Co., General Motors Corp. and DaimlerChrysler, two overseas automakers have agreed to join the Big Three's so-called Newco venture. Renault and Nissan Motor Co. will be equity partners in the online supplier exchange. The presence of these two players will bring the overall purchasing power of the equity partners to about $300 billion. It also appears to boost the momentum of the Big Three's planned site, even though Volkswagen said in a press release it hopes to create ``a broad European standard'' with its own exchange.
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