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Nissan shares slide 5% after report Renault exploring stake reduction

TOKYO — Shares of Nissan Motor Co slumped 5% on Monday, their biggest fall in more than a month, following a report that top shareholder Renault may consider lowering its stake in the Japanese automaker. Bloomberg reported on Friday that Renault may consider lowering its Nissan shareholding as part of plans to separate its electric vehicle business. The French car maker has been pushing ahead with plans to split its electric and combustion-engine businesses in an attempt to catch rivals such as Tesla and Volkswagen On Friday, Renault said all options were on the table for separating the electric vehicle business, including a possible public listing in the second half of 2023. Any plans would be subject to approval from alliance partner Nissan, Renault finance chief Thierry Pieton said, adding the Japanese automaker was "in the loop" as Renault weighed up its options. Renault and Nissan have declined to comment on the report. Shares of Nissan fell to 509.8 yen in Tokyo, marking their biggest one-day decline since early March and underperforming an almost 2% drop in the Nikkei index. The car makers' two-decade-old alliance, which includes Mitsubishi Motors, was rocked by the 2018 ouster of alliance founder Carlos Ghosn amid a financial scandal. They have since pledged to pool more resources. In January they said they would work more closely together to make electric cars. They detailed a $26 billion investment plan for the next five years. But their unequal relationship has long been a source of friction in Japan. Renault owns 43.4% of Nissan, which in turn has a 15% non-voting stake in its shareholder. Renault bailed out Nissan two decades ago, but is now the smaller automaker by sales. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Earnings/Financials Green Mitsubishi Nissan Renault

2015 Mitsubishi Outlander Sport Quick Spin

The Mitsubishi Outlander Sport is not new. It is also not sporty. Despite it all, the Outlander Sport is selling better than ever. Between 3,000 and 5,000 people take one of these crossovers home each month. That's good for Mitsubishi, a company clinging to life in the US market. But the Outlander's sales are a mere blip; that's about a week's worth of handshakes and signatures on Ford Escapes, at best. Until new product arrives, this is the stuff Mitsubishi has on the ground to sell, and the company has said it's committed to sticking around. That means I got to spend some time recently with a 2015 Outlander Sport SE with AWC (All-Wheel Control – you know, all-wheel drive). There are updates and changes for 2015, including an available 168-horsepower, 2.4-liter engine for ES and GT models, revised CVT, LED running lamps, thicker glass, better sound insulation, and electric power steering. But because I drove an E, I was locked into the 2.0 liter engine. It's the 4B11, a version of the GEMA engine, co-developed with Hyundai and DaimlerChrysler back in the Cretaceous. Driving Notes The most amazing thing I found after a week with the Outlander Sport is that it can bend the laws of physics. This is not a compact crossover so much as it's a time machine. Swing that door shut, and every trip takes place in 2008. Styling is pretty good. There's not a bad line on the Outlander Sport. It sits right on its relatively short wheelbase, and looks good doing it. I had low expectations for the powertrain. Most of my GEMA engine experienced comes from time with the Jeep Compass and Patriot, which are horrific NVH factories. Mitsubishi's version of this engine is more refined, and has a healthy 148 horsepower and 145 pound-feet of torque. The CVT has been revised to mimic the action of a seven-speed transmission. Why bother? The simulacrum doesn't hold. It's the typical 70/30 CVT split: unobtrusive 70 percent of the time, slippy and weird the other 30 percent. That same 70/30 split applies to on-road behavior. Most of the time, the Outlander Sport drives decently. Those other times, it just wants you to chill. Structural rigidity isn't up there with the segment leaders. Road noise is still higher than I'd have liked. This car has the single worst infotainment system I have ever experienced. Totally refused to pair with my phone, ever. This is not an isolated case for a Mitsu with this headunit.

Renault-Nissan alliance reboot will kick off with five projects

Renault SA and Nissan Motor Co. are moving ahead with a plan to recalibrate a two-decades-old alliance that had weakened over time, starting with a range of industrial projects alongside an agreement to rebalance capital ties, according to people familiar with the situation. Top executives from the alliance partners held an operating board meeting on Thursday, giving a nod to bringing Nissan and Renault’s cross shareholdings to an equal level, as well as common projects as part of the reshaped cooperation, the people said. The partners also agreed on an alliance event to be held on Feb. 6 in London to present details of the plans, the people added, declining to be named discussing details before they are public. Under the landmark plan, Renault is expected to cut its 43% stake in Nissan to 15% via an orderly disposal of shares over time to eliminate lopsided capital ties that have been a source of friction for years. The tentative agreement comes after years of tension that at one point spilled over into Japanese-French politics when Renault-NissanÂ’s then-leader Carlos Ghosn weighed to merge the two companies.   The partners also agreed to continue collaborating on various industrial projects, a condition that was crucial for Renault to obtain approval for the rebalancing from its most powerful shareholder, the French government. Media representatives for Renault and Nissan declined to comment. The boards of directors of the respective companies will have to approve the agreement in meetings to be held in coming days, the people said.  Code name: ‘ReloadedÂ’ The redesigned alliance will allow Chief Executive Officer Luca de Meo to move on with a complex split of Renault into five separate businesses, including carved-out electric-vehicle business Ampere and to deepen ties with a series of other partners, including ChinaÂ’s Zhejiang Geely Holding Co. and Qualcomm Inc., the people said. “The interest for each of the partners is now to be able to move forward without, for example, RenaultÂ’s management getting distracted in endless trans-national politics,” says Stifel analyst Pierre-Yves Quemener. Failure of the talks would have been “a negative,” Quemener said.  Renault, Nissan and junior partner Mitsubishi Motors Corp. will embark on roughly five projects initially, codenamed “Reloaded,” with others to follow, the people said.