Renault and Nissan is expected to become the world's third largest car making group, behind General Motors and Toyota, when the French company completes the partnership deal with Russia's Avtovaz, according to Carlos Ghosn, chief executive of the Franco-Japanese alliance.

The arrangement means that Renault, Nissan and Avtovaz will pass the seven million vehicle mark, which takes it past both Ford Motor Company and Volkswagen.

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