GM, Renault-Nissan chiefs to meet late Friday

0 Comments | AFP, July, 2006

DETROIT, United States (AFP) — Top executives from General Motors Corp. and Nissan-Renault were set to discuss a global alliance in which plans for emerging markets could be key.

Nissan-Renault's Carlos Ghosn noted during an interview with CNBC Thursday that mature markets in the United States, Japan and Europe are relatively stable and probably will not grow much in the near future.

"The real growth of the industry is happening in the developing markets: China, Russia, the Middle East, India. These are booming markets with double-digit growth rates," he said.

Just this week, GM surpassed Volkswagen as the top-selling automaker China and said it is on track to sell nearly 900,000 units in China this year.

Both GM and Nissan broke ground on new...