Nissan Motor Co can get to 1 billion euros net savings very quickly through synergies announced in deal with Daimler AG, Nissan Chief Executive Carlos Ghosn said.

Renault, Nissan and Daimler said earlier on Wednesday that they would swap stakes and jointly develop cars in a tie-up that could lead to combined savings of 4 billion euros over five years.

Ghosn also told reporters in Japan via a video-link press conference that he hoped to achieve more cooperation deals with Daimler in the future.

(Reporting by Chang-Ran Kim)

Japan Daimler AG