Renault and Nissan to Double Cost Savings by 2016

http://online.wsj.com/article/SB10000872396390443675404578058664078991052.html

Renault SA [RNO.FR +4.31%] and Nissan Motor Co. [7201.TO +1.35%] said they aim to nearly double annual savings stemming from their long-running alliance to €4 billion, or about $5 billion, in 2016 from this year's expected level.

The French and Japanese car makers are looking at additional joint purchasing, shared production at plants in Europe and development of vehicles on a new modular platform, a spokeswoman for the alliance said by email Monday.