Thursday 27th September 1990
Renault and Volvo signed an agreement of industrial cooperation, outlining plans for an eventual merger. The merger plans were abandoned three years later, leaving a lot of unanswered questions and speculations. Many industry experts suspect that Volvo backed out of the deal due to their lingering suspicion of the French government. Renault, a state-owned company, was slated for privatisation, but critics found the plans too vague and saw the French government as susceptible to pressure from its workers.