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Renault, Nissan attempt to calm rumors of impending split

TOKYO/PARIS — Shares in Renault recovered some lost ground on Tuesday after the French carmaker and its Japanese partner Nissan rejected media reports that their alliance was in danger of being dissolved. Some have openly questioned whether the alliance can survive without disgraced former CEO Carlos Ghosn to keep the two partners happy.  Renault shares fell to a six-year low on Monday after rumors circulated that its alliance with Nissan was in jeopardy. Nissan shares tumbled to their lowest in 8 1/2 years on Tuesday in Tokyo. At the opening of trading in Paris on Tuesday, Renault shares rose 1.3 percent, before falling back slightly to trade up 0.49 percent by 08:23 GMT. The alliance, which also includes Japan's Mitsubishi Motors, is "solid, robust, everything but dead," the chairman of Renault, Jean-Philippe Senard, told Belgian newspaper L'Echo. A split between the two automotive giants would force both to find new partners in a fast-consolidating industry that is growing increasingly difficult to navigate for independent companies. It will be especially difficult for Renault and Nissan, whose dirty laundry Ghosn intends to air for public consideration.   French Finance Minister Bruno Le Maire also weighed in, saying reports some executives wanted to break up the alliance were "malicious." Speaking to France's CNews TV, he also said he expected Renault to name a new chief executive within days to replace Thierry Bollore, a Ghosn-era appointee who was ousted in October. Luca de Meo, who stepped down as the head of Volkswagen's Seat brand last week, is seen as a frontrunner for the job, although a stringent non-compete clause in his contract firm may prove a hurdle, sources have told Reuters. Nissan, in response to "speculative international media reports," said it was "in no way considering dissolving the alliance." "The alliance is the source of Nissan's competitiveness," the Japanese automaker said in a statement. "Through the alliance, to achieve sustainable and profitable growth, Nissan will look to continue delivering win-win results for all member companies." Concerns emerged about the future of the Renault-Nissan partnership after the November 2018 arrest in Japan of Ghosn, the man who did more than anyone else to hold together the disparate alliance of often-contrasting carmaking cultures.

Nissan reviving Pulsar name for Euro market

The Nissan Pulsar doesn't have what we'd consider a rich history in the US, other than on some models decades ago. However, the nameplate has been part of the Nissan lineup globally since 1978 and has proven popular in Asia and Australia. Now, the brand is teasing a five-door hatch to revive the name and hit European showrooms this fall.
The new Pulsar will be built at the company's recently renovated factory in Barcelona, Spain. It's not clear from the teaser whether this is the same model that is already sold in other parts of the world or a brand new vehicle. Although, Nissan says in the announcement that the car "has been designed to meet the specific demands of European car buyers."
With competitors like the Volkswagen Golf and Ford Focus, the European five-door hatch market is seriously competitive. It will be interesting to see if Nissan will have something special to bring to the table. Scroll down to read Nissan's full teaser about its latest hatchback in Europe.

Nissan didn't have much say in merger talks, but it had what FCA wanted

TOKYO — Nissan wasn't consulted on the proposed merger between its alliance partner Renault and Fiat Chrysler, but the Japanese automaker's reluctance to go along may have helped bring about the surprise collapse of the talks. While Nissan Motor Co. had a weaker bargaining position from the start, with its financial performance crumbling after the arrest last year of its star executive Carlos Ghosn, it still had as its crown jewel the technology of electric vehicles and hybrids that Fiat Chrysler wanted. The board of Renault, meeting Thursday, didn't get as far as voting on the proposal, announced last week, which would have created the world's third biggest automaker, trailing only Volkswagen AG of Germany and Japan's Toyota Motor Corp. When the French government, Renault's top shareholder with a 15% stake, asked for more time to convince Nissan, Fiat Chrysler Chairman John Elkann abruptly withdrew the offer. Although analysts say reviving the talks isn't out of the question, they say trust among the players appears to have been broken. "The other companies made the mistake of underestimating Nissan's determination to say, 'No,' " said Katsuya Takeuchi, senior analyst at Mitsubishi UFJ Morgan Stanley Securities in Tokyo. The Note, an electric car with a small gas engine to charge its battery, was Japan's No. 1 selling car, the first time in 50 years that a Nissan beat Toyota and Honda. Renault and Fiat Chrysler highlighted possible synergies that come from sharing parts and research costs as the benefits of the merger. But what Fiat Chrysler lacks and really wanted was what's called in the industry "electrification technology," Takeuchi said. With emissions regulations getting stricter around the world, having such technology is crucial. Yokohama-based Nissan makes the world's best-selling electric car Leaf. Its Note, an electric car equipped with a small gas engine to charge its battery, was Japan's No. 1 selling car for the fiscal year through March, the first time in 50 years that a Nissan model beat Toyota and Honda Motor Co. for that title. Nissan is also a leader in autonomous-driving technology, another area all the automakers are trying to innovate. "Although Nissan had no say, its cautionary stance on the merger ended up being very meaningful," Takeuchi said.