AutoBeta(AutoBeta.net)05/30 Report--

At a regular meeting of the Renault-Nissan alliance at Nissan's headquarters in Yokohama on May 29th, a Nissan spokesman said he had no objection to the planned merger of its partner Renault and FCA. Renault is currently in talks with FCA on a proposed merger that could lead to a $35 billion deal that would make it the world's third-largest auto group.

Renault CEO asked Dominic Sennard to arrive in Japan on Tuesday to see how Nissan should integrate into the new alliance. And continue to discuss the merger with Nissan.

Overall, we [Nissan] do not see any problems in the merger plan, Nissan chief executive Hiroshi Nishikawa said on Wednesday. Sources said Nissan had rejected the proposed merger with Renault, arguing that the Renault-FCA deal would weaken the relationship between Nissan and Renault.

Moody's, the credit rating agency, said Nissan must stabilize its partnership with Renault to expand business synergies and improve profit margins. "it is not clear whether the Nissan-Renault-Mitsubishi alliance can advance cooperation without cross-shareholding, which has been the focus of controversy," Moody's said in an investor report. " The report downgraded Nissan's credit rating last week.

As the auto industry faces multiple challenges, carmakers face pressure from environmental regulation and declining sales in the world's largest market, forcing them to integrate resources and technology to face the challenge. They also need to invest a lot of money in self-driving technology, or they risk being left behind by deep-pocketed rivals such as Google Waymo.

Nissan announced a weak operating profit outlook and cut its dividend for the first time in a decade, driven by declining US performance, aging models and different product cycles.

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