Fleet News

Renault poised to buy into Samsung

RENAULT is poised to secure a 70% stake in Korea's third largest car maker Samsung Motors and confirm a new truck alliance with Volvo.

The first deal will give the French manufacturer control of a 240,000-car annual capacity, the second up to 30% of the European heavy goods vehicle market as well as almost a quarter of the US truck market. Renault is expected to pay about £350 million for debt-ridden Samsung.

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