According to the reports Volvo is apparently interested in an alliance with Nissan Diesel as it tries to pull out of its existing partnership with Mitsubishi Motors.
A spokesman for Nissan Diesel, however, said the reports appearing in the Japanese media were unfounded.
Volvo has so far refused to comment on the both reports that it is seeking a new alliance as well as trying to withdraw from its existing alliance. Mitsubishi said on Thursday that it had not been approached by Volvo on the issue.
French automaker has a 22.5 per cent stake in Nissan Diesel and a similar stake in Nissan Motor Corp., making it the largest shareholder. Volvo bought out Renault truck operations last year.
The Kyodo news agency reported that Volvo was planning enter definitive talks on a Nissan Diesel alliance once it had reached agreement on its withdrawal from the Mitsubishi alliance.
According to the financial daily newspaper Nihon Keizai Shimbun top executives of Renault and Nissan Diesel will meet at the end of this month to discuss a possible alliance between Nissan Diesel and Renault.
Nissan Diesel is straining under the weight of an accumulated debt of 480 billion yen (403 million dollars), although the company is expecting to return to the black this year.
Negotiations with Volvo, if proven true, could prove difficult as a result of the huge debt.
(la/dpa)
6°C / 12°C 
7°C / 12°C 
7°C / 12°C 
9°C / 13°C 
12°C / 18°C 
