Nissan Motor Co. and Renault SA have approved opening talks with U.S. auto giant General Motors Corp. on a possible alliance, according to the Japanese and French automakers.
Nissan's board of directors met Monday and decided the company "should proceed with exploratory discussions concerning a potential alliance with General Motors," the firm said in a statement.
The talks will be conditional on GM endorsing a proposal by its major shareholder, billionaire investor Kirk Kerkorian's Tracinda Corp., that GM join the alliance between Nissan and its partner, Renault, the statement said.