General Motors, Renault and Nissan on Friday said the three companies are to embark on a 90-day exploratory review to see whether they can create an industrial alliance between them.

Carlos Ghosn, president and chief executive officer of Renault, SAS and Nissan Motor Co. Ltd, met Rick Wagoner, chairman and chief executive officer of General Motors, Corp., and agreed to co-operate in the confidential review of the potential benefits of the alliance to each company and the feasibility of doing it successfully.

"We had a good discussion today, and are looking forward to having our teams work together to explore our ideas," Mr Wagoner and Mr Ghosn were quoted in the statement, posted on the Renault Website. "It is important to let our teams work on this review without distraction and, therefore, we will not be providing further public comments about it at this time."

The review should show whether further exploration of the alliance concept is warranted.

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