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Nissan backing off IDx, BladeGlider and Infiniti Eau Rouge amid focus shift

Nissan and Infiniti are officially under the microscope after their presentations at the 2015 Detroit Auto Show focused on the new Titan pickup and Q60 Concept, but lacked any and all mention of allegedly production-bound examples of the Q50 Eau Rouge, IDx and BladeGlider EV concepts. Automotive News reports that the lack of info on the three concept cars, which had previously heralded a more performance-minded Nissan/Infiniti, has signaled a shift in priorities at the Japanese company. Instead of driver-oriented models, emphasis is seemingly being focused more on volume offerings. Nissan was subject to a pair of high-level executive departures last year, with both Andy Palmer and Johan de Nysschen departing for Aston Martin and Cadillac, respectively. Both execs were strong proponents of more driver-oriented offerings, with Palmer championing the compact, rear-drive IDx coupe and de Nysschen backing the high-performance Q50 Eau Rouge. While Palmer has been mum on his former employer's alleged move away from performance, de Nysschen made headlines last month after calling out a Nissan vice president in a Facebook post saying he "heard a rumor that Noboru Tateishi is going to cop-out and shelve the Eau Rouge project now that I'm not there to pressure him," while adding that the VP has "more enthusiasm for 'driver's aid's,' apparently, than 'driver's cars.'" AN reached out to Infiniti, with North American VP Michael Bartsch telling the publication that no decision had been reached about the Eau Rouge and that the company was more focused on rebuilding its core portfolio. Featured Gallery Nissan IDx Nismo View 34 Photos Related Gallery Infiniti Q50 Eau Rouge Concept View 24 Photos Related Gallery Nissan BladeGlider Concept View 22 Photos News Source: Automotive News - sub. req.Image Credit: Nissan, Infiniti Rumormill Infiniti Nissan Coupe Luxury Performance Sedan infiniti q50 infiniti q50 eau rouge nissan bladeglider concept

Renault-Nissan-Mitsubishi pool $200 million to invest in tech startups

PARIS — The Renault-Nissan-Mitsubishi alliance is setting up a $200 million mobility tech fund, three sources said, in the latest move by major carmakers to adapt to rapid industry change by investing in startups through their own venture capital arms. The fund, due to be unveiled by Chief Executive Carlos Ghosn at the CES tech industry show in Las Vegas next Tuesday, will be 40 percent financed by Renault, 40 percent by Nissan and 20 percent by Mitsubishi. "It will allow us to move faster on acquisitions ahead of our competition," one of the alliance sources told Reuters. Frederique Le Greves, a spokeswoman for the Renault-Nissan-Mitsubishi alliance, declined to comment. The traditional auto industry model based on individual ownership is threatened by pay-per-use services such as Uber, as well as ride- and car-sharing platforms, a challenge heightened by parallel shifts towards electrified and self-driving cars. Wary carmakers are struggling to embrace changes and technologies that some of their executives are only beginning to grasp. To accelerate the process, many are investing directly in the new services — and gaining access to intellectual property — via their own corporate venture capital (CVC) funds. BMW has purchased stakes in a plethora of ride-sharing, smart-charging and autonomous vehicle software firms through its 500 million euro ($600 million) iVentures fund, the biggest such in-house facility belonging to a carmaker. Among others that have been increasingly active are General Motors' GM Ventures, with $240 million, and Peugeot-maker PSA Group's 100 million-euro investment arm. CVC funds, a familiar feature of innovative sectors such as tech and pharmaceuticals, have become more commonplace among carmakers since the 2008-9 financial crisis. They let companies skip some of the formalities otherwise required for new investments, and pounce more swiftly on promising startups. The Renault-Nissan-Mitsubishi venture will also obviate the current need to thrash out the ownership split for each new alliance acquisition. It represents a further step in the integration of the carmakers as they pursue 10 billion euros in annual synergies by 2022. France's Renault holds a 43.4 percent stake in Nissan, which in turn controls Mitsubishi. Ghosn heads Renault and chairs all three.

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.