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Nissan to pull out of venture fund with Renault in cost-cutting drive, insiders say

TOKYO — Nissan is likely to pull out from a venture capital fund it runs with alliance partners Renault and Mitsubishi Motors, as part of the Japanese automaker's drive to cut costs and conserve cash, two sources said. Nissan will formally take a decision on whether to leave the fund, Alliance Ventures, by the end of this month, the two Nissan insiders told Reuters, declining to be identified because the information has not been made public. The likely move comes after Nissan's junior partner, Mitsubishi Motors Corp, told an alliance meeting last week that it would no longer continue to inject money into the fund, one of the sources said. The decision to leave the Amsterdam-based fund was all but a done deal, the other source said, adding: "Of course we're out. The house is on fire." A Nissan spokeswoman said it was speculation and declined to comment. A Mitsubishi spokesman said no decision had been made. The move comes as Nissan — which has seen its earnings slump — is now facing a downturn in China, its biggest market, due to the impact of the coronavirus outbreak. China sales plunged 80% last month. It also highlights the extent of the automaker's cost-cutting under new CEO Makoto Uchida, who is under pressure for a quick turnaround. Alliance Ventures is aimed at finding "learning opportunities" for the alliance through investing in startups, and is supposed get up to $200 million (153.3 million pounds) a year from the three alliance partners, although it never achieves that full amount, the first source said. It was set up under former alliance head Carlos Ghosn, whose dramatic arrest in Japan culminated in an escape to his childhood home of Lebanon in December. Ghosn faces multiple charges in Japan, including of under-reporting earnings and misappropriation of company funds, all of which he denies. According to its website, the fund was set up with a $200 million initial investment and aims for up to $1 billion by 2023. Portfolio companies include WeRide, a Chinese robo-taxi startup and Tekion Corp, a cloud-based retail platform for cars. "It wasn't established by Ghosn as a way to make money. It was for those learning opportunities we get from investing in smart startups," the first source said. "But given the tough financial situation we are facing, we are looking at investment return." Reporting by Norihiko Shirouzu; Editing by David Dolan/Louise Heavens/Susan Fenton.

Massive Airbag Recall Affects Seven Automakers

The recall of faulty airbag inflators supplied by Takata has exploded today to grow to seven automakers. In most cases, only models in certain high-humidity regions were affected because the National Highway Traffic Safety Administration found in its investigation that moisture played a role in determining whether there would be a problem. However, some companies opted for national campaigns. The exact number of affected models for these campaigns isn't yet known at this time. BMW is recalling an undisclosed number of 325i, 325Xi, 330i and 330Xi models from the 2001 through 2005 model years and the 2001-2006 model year versions of the 325Ci and 330Ci for the driver side and passenger side inflators. Only vehicles currently registered in Florida, Puerto Rico, Hawaii and the US Virgin Islands are covered under this recall. Neither Chrysler's filing with NHTSA nor its press release list the specific models affected, but a company spokesperson told Autoblog that at this time it only covers the driver and passenger side inflators for the 2006 Dodge Charger in Florida, Puerto Rico, Hawaii and the US Virgin Islands In most cases, only models in certain high-humidity regions were affected because the NHTSA found that moisture played a roll in determining if there would be a problem. Ford is recalling an estimated 58,669 cars that include the 2005-2006 model years of the Ford GT for the driver and passenger inflators, the 2007-2007 model years of the Mustang for the driver side and 2004 Ranger for the passenger side. It covers vehicles originally sold or currently registered in, wait for it... Florida, Puerto Rico, Hawaii and the US Virgin Islands. Honda is issuing three separate recalls regarding the problem. First, the company is recalling the 2002-2003 model years Civic, CR-V and Odyssey and the 2003 model year of the Accord, Element, Pilot and Acura MDX to replace the passenger's side inflator. This covers all models nationwide. Second, Honda is repairing the passenger's side airbag inflator in the 2003-2005 Accord, Civic, CR-V, Element, Pilot, the 2003-2004 model year versions of the Odyssey, the 2003-2005 model year Acura MDX and 2005 Acura RL. However, only for vehicles located in Alabama, Florida, Georgia, Hawaii, Louisiana, Mississippi, South Carolina, Texas, Puerto Rico and the US Virgin Islands. Owners will be notified in July. Finally, Honda is separately replacing some models' driver's side inflators.

This map reveals the cleanest vehicles based on location

Naysayers love to point out how dirty the electricity grid mix is when it comes to charging electric vehicles. Curmudgeons are eager to jump into any conversation about EVs to enlighten the lucky listeners about how plug-in cars contribute to pollution, sometimes even throwing in a dash of climate-change denial for good measure. (Thanks, buddy. Pray, tell me more about the plight of oppressed SUV owners.) Unless someone buys an EV just because they think they're cool (which, yeah, they often are), they probably have at least a passable understanding of their environmental pros and cons. As many EV owners are already aware, location has a lot to do with any particular plug-in car's carbon footprint. Still, there's always more to know, and knowledge is not a bad thing, especially if one uses it to do the right thing. That's why this handy-dandy map from Carnegie Mellon University is so interesting. CMU researchers have compiled information about the lifecycle greenhouse gas emissions of various EVs based on where they're charged, as compared to gasoline-powered vehicles. The researchers looked at the Nissan Leaf, Chevrolet Volt, and Prius Plug-In Hybrid versus the gasoline-dependent Toyota Prius hybrid and the stop-start-equipped Mazda3 with i-ELOOP and compared grams of CO2 emitted per mile. CMU takes into account the grid mix, ambient temperature, and driving patterns. CMU takes into account the grid mix based on county, as well as ambient temperature and driving patterns in terms of miles traveled on the highway or in the city. For instance, if you drive a Nissan Leaf in urban areas of California, Texas, or Florida, your carbon footprint is lower than it would be if you were driving a standard Toyota Prius. However, if you charge your Leaf in the Midwest or the South, for the most part, you've got a larger carbon footprint than the Prius. If you live in the rural Midwest, you'd probably even be better off driving a Mazda3. Throughout the country, the Chevrolet Volt has a larger carbon footprint than the Toyota Prius, but a smaller one than the Mazda3 in a lot of urban counties in the US. The Prius and Prius Plug-In are relatively equal across the US. Having trouble keeping it straight? That's not surprising. The comparisons between plug-in and gasoline vehicles are much more nuanced than the loudest voices usually let on.