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Daimler and Renault Setting Up Joint Venture in Slovenia

Frankfurt, 11 February (STA) - German car maker Daimler and its French rival Renault are said to be setting up a joint development and production project to be carried out in Slovenia, the AFP news agency reported on Thursday.

The car makers are reportedly planning the production of a new four-door Smart and the Twingo city cars in Renault's Slovenian subsidiary of Revoz, seated in the town of Novo mesto.

The report, initially published by the Financial Times Deutschland (FTD), says the second option would be Daimler's plant in Hambach, in eastern France.

The companies reportedly decided on the joint project to cut production costs of small cars.

According to AFP, Daimler hinted in December 2009 it might strike a deal with a rival on the sharing of production costs in the first half of 2010, but refused to comment on the FTD report today.

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