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Renault, Nissan officially reboot their auto alliance for post-Ghosn era

Nissan CEO Makoto Uchida looks on as Renault CEO Luca De Meo and Mitsubishi CEO Takao Kato shake hands during a news conference to unveil new agreement between Nissan and Renault on Monday in London.   LONDON — Automakers Renault and Nissan on Monday formalized their reboot of a relationship that had grown rocky, culminating in the spectacular fall of top executive Carlos Ghosn, who had led successful turnarounds at both companies before his arrest and daring escape. The boards of both companies approved equalizing the stake each automaker holds in the other to 15%, bringing a better balance in the French-Japanese alliance, which also includes smaller Japanese carmaker Mitsubishi Motors Corp. The uneven shareholdings had been viewed at times as a source of conflict. Until now, Renault Group of France owned 43.4% of Nissan Motor Co., while the Japanese automaker owned 15% of Renault. “We have been waiting a long time for this moment,” Renault board Chairman Jean Dominique Senard said at a news conference in London, calling it a “new era." Nissan intends to invest up to 15% in Ampere, RenaultÂ’s electric vehicle and software entity in Europe that Mitsubishi also will consider investing in. The automakers said they will collaborate in markets worldwide, including Latin America, Europe and India. The moves come at a time when the extremely competitive auto industry is undergoing a major shift toward electric vehicles and other environmentally friendly models. The long speculated changes to the carmaker alliance were announced a week ago. Shares equivalent to a 28.4% stake will be transferred to a French trust, according to the companies. Renault, whose top shareholder is the French government, and Nissan agreed on an orderly sale of that stake, although there will be no deadline. Nissan Chief Executive Makoto Uchida vowed to take the alliance to “the next level of transformation” to adapt to a new era. “This is not a choice but a need,” he said. In theory, partnerships are a good way for automakers to cut costs by sharing parts, production and technology, especially when the industry is going through such dramatic change with EVs. That also means that, once formed, ending an alliance can be difficult because the companiesÂ’ development, manufacturing and products get so closely tied together. Still, partnerships can stumble because of the different corporate cultures of the automakers, especially when it involves a meeting of the West and East.

Hyundai plots a Nissan Juke fighter

A few years ago, Hyundai Motor America CEO Dave Zuchowski suggested interest in taking on the Nissan Juke with a subcompact crossover. It looks like that project is coming together, as we caught Hyundai testing a small, curiously-styled SUV in Germany recently. The SUV is expected to share a lot of the same chassis components as the i20, a hatchback that's sold in other parts of the world, with the same engine lineup as the new i30, another hatchback that Hyundai doesn't sell in the America. In the United Kingdom, the i30 is available with engines including a 1.4-liter gasoline and a 1.6-liter diesel unit. Front-wheel drive would be standard with all-wheel drive an option. The heavily-camouflaged prototype doesn't give away a lot of the SUV's design. The front of the vehicle is hidden away, but what we can see the grille features hexagonal shapes instead of the horizontal bars that we've become accustomed to seeing in Hyundais. The headlights mimic the Jeep Cherokee's design with thin slits on top and larger, round units toward the bottom. At the back, camouflage hides the majority of the prototype, but the taillights appear to be different than the rest of Hyundai's offerings. The outline of the taillights resembles the same units found on the Intrado Concept, indicating the vehicle will get some design cues from the hydrogen-powered prototype. A single exhaust outlet protrudes underneath the rear end. The overall profile of the SUV appears to be smaller than the Tucson, which is currently Hyundai's smallest crossover in the US. Related Video: Featured Gallery Hyundai SUV Spy Shots View 10 Photos Image Credit: CarPix Design/Style Spy Photos Hyundai Nissan Crossover SUV Future Vehicles

Nissan may take control of struggling Mitsubishi Motors

Update: The reports were largely correct. Nissan will take a 34 percent stake in Mitsubishi for roughly $2.2b. Read all about it here. Reports say Nissan will buy a controlling stake in Mitsubishi Motors, either 30 or 34 percent, for about 200 billion yen or $1.84 billion. Nissan and Mitsubishi motors are currently part of a joint venture, NMKV, to build minicars together. Nissan is also responsible for reporting fuel-economy discrepancies with cars built under the joint-venture agreement, which put Mitsubishi in its current weakened state. Earlier today, reports surfaced that the fuel-economy issues were wider ranging than originally thought. Mitsubishi now admits that all of its Japanese-market cars sold since 1991 could have had faked fuel-economy data. Shares of Mitsubishi Motors have dropped by about half since the scandal was uncovered, opening the door for a takeover. While Nissan is a much larger company, it can benefit from Mitsubishi's 60-percent share of Japan's minicar market. The two companies also had plans to build electric vehicles together in the joint venture. Japan's Nikkei reports that talks are ongoing between the company and that a decision could be made Thursday by the companies' boards. Related Video: News Source: Nikkei Green Mitsubishi Nissan