Munich/Paris — Carlos Ghosn tamped down the expectation of a quick deal to combine Nissan and Renault, saying the spectre of failed mergers in his industry loomed large. "I don’t think you’re going to see it this year or next," Ghosn, who heads the Renault-Nissan-Mitsubishi alliance, said on Wednesday at Bloomberg’s Sooner Than You Think technology summit in Paris. "Lots of mergers collapse and destroy value — the strength of any company is the ability to motivate people, and how are you going to do that if some of these people consider themselves second-class citizens." Renault and Nissan are discussing ways to strengthen their lopsided two-decade old alliance as the industry shifts to meet new challenges in an era of self-driving and electric vehicles. The talks are delicate, with Nissan seeking to gain more influence in crucial operations such as product development, Bloomberg reported this month. The pair are navigating their future as the payoff from the industry’s investments ...

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