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Nissan says talks with Renault focused on better competing in electric cars

TOKYO — Nissan's talks with Renault on revamping their alliance are focused on strengthening competitiveness as equal partners and getting the most from their investment in electric cars, the Japanese automaker's CEO told Reuters. The negotiations with Renault, Nissan's top shareholder, have less than two weeks remaining to meet a Nov. 15 target the companies had set to reach a deal, according to people with knowledge of the talks. Nissan Chief Executive Makoto Uchida declined to comment on whether an agreement could be reached this month. But he said he was talking with Renault CEO Luca de Meo every weekend and the talks would be "ongoing for the future." People familiar with the negotiations have said the sharing of technology had emerged as one sticking point. Uchida, who has spent much of his Nissan career in positions related to the Franco-Japanese alliance, emphasised that the talks were based on mutual trust. Each company had valuable technology and discussions of technology transfers were to be expected, he added. He said the goal was to improve the automakers' ability to compete at a time of economic uncertainty and as the industry pushes toward what he described as its biggest transformation in a century with the shift to electric vehicles. "The discussion we are having is about how to make our competitiveness even stronger," Uchida said in an interview with Reuters on Friday. "That's number one." His comments were his first to media since the automakers last month said they were discussing the future of their alliance. The partnership, which began with a 1999 investment from Renault and was long overseen by former executive-turned-fugitive Carlos Ghosn, was critical to turning around the Japanese automaker. But Nissan executives have over the years bristled over the unequal ownership structure, with Renault owning 43% of Nissan and the Japanese automaker holding only a 15% non-voting stake in Renault. People with knowledge of the talks have said the two sides have been discussing a reduction in Renault's stake, potentially to 15%, and the terms under which that could happen. "We want it to be an equal partnership," Uchida said, adding that an "equal partnership would make sense and that would speed up the collaboration even more." He did not comment on potential stake levels.

Carlos Ghosn's arrest casts doubt on future of Renault-Nissan alliance

For years, France's Renault and Japan's Nissan struggled to make money in the global auto business. Then came Carlos Ghosn, a Renault executive who helped to orchestrate an unprecedented transcontinental alliance, combining parts of both companies to share engineering and technology costs. Now Ghosn's arrest in Japan for alleged financial improprieties at Nissan could put the nearly 20-year-old alliance in jeopardy. Ghosn, 64, born in Brazil, schooled in France and of Lebanese heritage, is set to be ousted this week from his spot as Nissan chairman. He could also lose his roles as CEO and chairman of Renault, threatening the alliance formed in 1999 that's now selling more than 10 million automobiles a year. He's been "the glue that holds Renault and Nissan together," Bernstein analyst Max Warburton wrote in a note to investors. "It is hard not to conclude that there may be a gulf opening up between Renault and Nissan." In fact, Nissan's investigation into alleged misconduct by Ghosn is expanding to include Renault-Nissan finances, sources told Reuters — in a further sign that Nissan may seek to loosen its French parent's hold on their global carmaking alliance. Nissan told Renault's board on Monday it had evidence of potential wrongdoing at Renault-Nissan BV, the Dutch venture overseeing alliance operations under Renault's ultimate control, three people with knowledge of the matter said. Renault's board planned to meet Tuesday to discuss Ghosn's fate. "Carlos Ghosn is no longer in a position where he is capable of leading Renault," French Finance Minister Bruno Le Maire told France Info radio, calling on Renault's board to meet "in the coming hours" to set up an interim management structure. The French government owns 15 percent in Renault and has a say in its operations. Nissan's board is to meet Thursday to consider Ghosn's fate. Nissan has said it will dismiss Ghosn after he was arrested for allegedly abusing company funds and misreporting his income. That opens up a leadership void at the entire alliance, for which Ghosn officially still serves as CEO and chairman. Ghosn added Mitsubishi to the alliance two years ago after the tiny automaker was caught in a gas-mileage cheating scandal. Renault owns 43.4 percent of Nissan, which owns 15 percent of Renault, with no voting rights in a partnership that began in 1999. Since 2016, Nissan has held a 34 percent controlling stake in Mitsubishi Motor Corp.

Nissan VP suggests next Z will offer multiple engines

Roel de Vries, the corporate vice president and global head of marketing and brand strategy for Nissan, told Australia's CarAdvice that as far as he's concerned, any engine in the 370Z "[needs] to deliver on what the car stands for and if the 370Z stands for real performance and real driving I think it doesn't need a V6 to do that." At first read, it could look like de Vries is softening us up for a next-generation Z that doesn't come with a V6, a move that would disappoint a lot of the coupe's fans. Or, what if de Vries was actually getting us ready for a Z with multiple engine options, instead of only a V6, in order to expand its global appeal? That appeared to be the gist of his comments, the exec saying that they couldn't sell a V6-engined Z in Europe, but even if they offer a four-cylinder there, the V6 could live on because, "why should we give it up?" With the coupe's current name a factor of the 3.7-liter displacement of it's V6, though, what is the future for a car with several engine options? Said de Vries, "We [will] definitely keep the Z name, but when we did 350 to 370 it was because of the capacity, but who says the next-generation doesn't have three engines and its not just called Z?" This kind of talk has been going on all year, the real question being how many engines will the car get and what's the endgame. At the beginning of the year, ex product chief Andy Palmer said the car codenamed Z35 would use a "downsized four-cylinder turbocharged engine." In August, Motor Trend reported that the next Z would offer "a mixture of smaller but powerful engines," including a hybrid, but that a V6 would remain the headliner. Two weeks later, MT said that Nissan wanted to transition customers from the naturally aspirated V6 to a turbocharged four-cylinder with the same power, eventually, but would begin with both on the menu. Parallel to that are Shiro Nakamura's out-loud musings about how to merge the next Z and the IDx concepts into "a more affordable, more approachable sports car." The answers, whatever they are, will be a big deal for the brand.