By Drew Johnson
Wednesday, Aug 29th, 2007 @ 7:50 am

Renault has announced that the company has no interest in acquiring the Volvo brand from Ford . “Renault needs new products, new technologies. It does not need a new brand,” Renault’s CEO Carlos Ghosn said at a recent press conference. “Given the substantial amount of money we are being asked for Volvo, I don’t see the interest for Renault,” Ghosn said.
There has been speculation that the two automakers might join forces because Renault and Volvo had an alliance in the early 1990s. The union was broken apart at Volvo’s initiative, according to Automotive News. Heavy truck maker Volvo AB, which is separate from Volvo Cars, purchased Renault’s heavy truck division in 2001.

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