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Renault to propose joint holding company with Nissan, Nikkei reports

TOKYO — Renault SA will propose to Nissan Motor Co a plan to create a joint holding company that would give both firms equal footing as the French automaker seeks further integration with its Japanese partner, the Nikkei newspaper reported on Friday. Under the proposal, both firms would nominate a nearly equal number of directors to the new company in which ordinary shares in both Nissan and Renault would be transferred on a balanced basis, the newspaper said, without citing sources. This would effectively dilute the stake held by the French government in Renault to around 7-8 percent, from its current 15 percent, it added. The new company would be headquartered in a third country, such as Singapore. Renault plans to make the proposal to Nissan soon, the Nikkei said, having modified an earlier merger idea that Nissan rejected on April 12. Nissan declined to comment on the issue. The Financial Times newspaper reported that both Nissan and the Japanese government have refused to engage in merger talks with Renault. The report of the proposal comes as the outlook for the alliance — one of the world's top automaking partnerships — has clouded since the arrest in November of its main architect, Carlos Ghosn, for suspected financial misconduct. It also comes as Nissan's financial performance struggles following years of focusing on volume sales over building its brand, particularly in the United States, its biggest market. Nissan slashes its forecast This week, the Japanese automaker slashed its profit forecast for the year just ended to its lowest in nearly a decade, citing weakness in its U.S. operations. Renault for years has been vying for a closer merger with Nissan, which it rescued from the brink of bankruptcy two decades ago. Ghosn had been working to achieve a deeper integration before his arrest on financial misconduct charges in November last year. While the automakers have been consolidating many of their operations over the past decade, including procurement and production, many executives at Nissan have opposed an all-out merger with Renault. Instead, Nissan has argued for a more equal footing with Renault, which holds a 43 percent stake in its bigger partner. Nissan holds a 15 percent stake in Renault. It was unclear whether Renault would hold the casting vote in major decisions at the new company, as it did in Renault-Nissan B.V., a strategic management company jointly held by both companies that oversaw operations for the partnership.

2020 Ford Escape plug-in vs. Toyota RAV4 Prime, Mitsubishi Outlander PHEV: How they compare on paper

This year is when the entry-level plug-in crossover market really starts to heat up. Both Ford and Toyota have new models in the 2020 Ford Escape and the 2021 Toyota RAV4 Prime. They join the segment veteran Mitsubishi Outlander PHEV, which has been available in the U.S. since the 2018 model year. And of course that means it's time to look at how the numbers add up while we wait for our chance to drive the new competitors. You can find a chart with all the details immediately below, followed by more detailed analysis. Powertrain One of the key factors for any hybrid, particularly plug-in models, is how little fuel they use. Overall, the Ford Escape is the winner with 100 mpg-e, the fuel economy equivalency for the vehicle when assessing it with a full battery. The Toyota is close behind with 94 mpg-e. We're expecting the Escape to also be a bit more efficient when running only on gas, as it reportedly gets 41 mpg. The RAV4 will likely get 40 mpg, or possibly slightly less, since the non-plug-in RAV4 Hybrid achieves 40 mpg combined. Running solely on electric power, though, the RAV4 edges out the Escape with 42 miles of range versus 37. Behind both of them is the Mitsubishi with just 22 miles of range, 25 mpg on gasoline only, and 74 mpg-e with a full battery. One unique feature the Mitsubishi claims is DC fast charging capability, meaning 80% of its electric range can be restored in just 25 minutes, possibly allowing for more electric use depending on where you're driving it. While fuel economy is a priority for hybrids, customers won't want to compromise on other features. The Toyota is easily the least compromising, as it returns impressive range and efficiency while also providing a whopping 302 horsepower and all-wheel drive. The Mitsubishi also has all-wheel drive, but a comparatively paltry 190 horsepower. The Ford produces slightly more power at 200, but is front-wheel-drive only. While low in comparison to the RAV4 Prime, the Mitsubishi and Ford have very competitive output to many comparably-sized conventional crossovers with base engines, such as the Honda CR-V, Chevy Equinox and others. Size and space Naturally one of the reasons for buying a crossover is for its practical shape for comfortable hauling of people and stuff. In this regard, all three crossovers are very close. The Escape wins out with legroom, the Toyota with shoulder room. Headroom is split between the Toyota and Mitsubishi.

'Nothing is blocking' Nissan alliance talks, says Renault chairman

TOKYO — Nothing is blocking discussions between Nissan and Renault over the future of their alliance and the two companies will have "important talks" on Tuesday and Wednesday, the French automaker's chairman said in Tokyo. Speaking at an event on Tuesday, Renault SA chairman Jean-Dominique Senard touted the Franco-Japanese alliance, which has been discussing ways to revamp the relationship. The companies had initially set Tuesday as a deadline to hammer out a deal. However, the discussions have taken longer than originally expected due to Nissan's concerns about how its intellectual property rights can be protected as Renault forges new ties with China's Geely, sources have told Reuters. Renault last week unveiled a sweeping overhaul of its businesses, saying it would set up a joint venture with Geely for gasoline engines and hybrid technology and spin off its electric vehicles unit next year. It wants Nissan to invest in the new electric unit. The companies are also renegotiating their equity ties, which currently see Renault owning a controlling 43% of Nissan and the Japanese company holding only a 15% non-voting stake in Renault. "Nothing is blocking" the discussions, he told reporters after the event, declining to say when the alliance members would reach a deal and adding "you will be informed on time." "As the chairman of this alliance, I've never lived such a warm atmosphere within the alliance and this bodes well for the future."   Green Mitsubishi Nissan Renault