TOKYO: French automaker Renault, Japan's Nissan and Germany's Daimler AG will form a partnership to exchange capital, develop cars and share expertise, the companies said in a statement Wednesday.

As part of the deal, the Renault-Nissan alliance will take a 3.1 percent stake in Daimler, while Daimler will take 3.1 percent of Renault and 3.1 percent of Nissan, they said.

Renault-Nissan and Daimler, which makes the luxury Mercedes-Benz line and the Smart small car, also agreed to work together to develop small cars and engines and collaborate in the field of light commercial vehicles.

Nissan is 44.3-percent owned by Renault.