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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.

2014 Nissan Juke Nismo RS priced from $26,120*

We'll admit, we're quite excited about the Nissan Juke Nismo RS, especially now that its price has been revealed. For $26,120, you can get the sharpest, sportiest Juke outside of the over-caffeinated, 545-horsepower Juke R.
That base price reflects the cost of the Juke Nismo RS you really want - the front-drive model, complete with six-speed manual. Snagging an all-wheel-drive, CVT-equipped version will cost an extra $2,000. Those prices don't include an *$810 destination charge.
The Juke Nismo RS boasts an extra 18 hp and 26 pound-feet of torque over the 197-hp Juke Nismo, thanks to things like a new exhaust. The big, must-have feature, though, are the Recaro thrones fitted in the front of the RS. As we said when the hot Juke debuted in LA last year, the seats alone may be worth upgrading to the RS model.

Tesla poaches Renault-Nissan communications boss Sproule

Need another sign that Tesla is growing into a force to be reckoned with? Bloomberg reports it has just snagged high-profile communications boss Simon Sproule from Renault-Nissan to become the EV maker's vice president of communications and marketing.
Sproule is an industry veteran, having spent 20 years at Nissan (where he grew to become CEO Carlos Ghosn's right-hand man). In addition, he logged stints at Ford, Jaguar (when it was still a Blue Oval-owned brand) and Microsoft. Despite all that experience, Sproule is still young, at just 45 years of age, as Bloomberg points out, yet he's held positions in the US, Japan and France over the years.
This is all good news for Tesla, which is in need of a strong spokesman outside of company CEO Elon Musk. It's been battling with the state of New Jersey and its governor, Chris Christie, over direct sales in the Garden State.