It's no secret that Renault was looking for a partner to revive its Alpine sports car brand and now the French carmaker says it has found it in the Caterham Group.
The two companies made the wedding official today during a press conference in Paris where they announced the formation of a new 50-50 joint venture to develop both Alpine and Caterham-branded sports cars on common underpinnings and built at Renault's plant in Dieppe in northern France.
The Caterham Group will own a 50% stake in the Automobiles Alpine Renault company, which is currently owned 100 percent by Renault SAS. The Société des Automobiles Alpine Caterham (SAAC) venture will be created in January 2013 and will be headed by Bernard Ollivier, who became vice president of Renault in 2011.
Carlos Ghosn, Chairman and CEO of Renault commented: "This innovative partnership with Caterham embodies a longstanding ambition: the creation of a sports car with the Alpine DNA. It carries both opportunities for the Dieppe plant and the development of its historic expertise."
Read more »