Renault and Nissan will each take on a 1.55% stake in Daimler, which in turn will take a 3.1% stake in each of the other two. Co-operation will include developing a common chassis for two of the carmakers' most popular small models, Daimler's Smart Fortwo and Renault's Twingo. The partnership will also extend to sharing petrol and diesel engines, with Daimler's Mercedes-Benz using Renault-Nissan engines for its future lineup of premium compact cars, and Nissan's Infiniti using four- and six-cylinder engines from Daimler, the companies said. "We are strengthening our competitiveness in the small and compact car segment and are reducing our CO2 footprint – both on a long-term basis," Daimler chairman Dieter Zetsche confirmed in a statement. The statement did not provide details on total cost savings the companies aim to achieve from the partnership.