2017 Nissan Altima on 2040-cars

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Geely and Renault joint venture will develop internal combustion and hybrid tech

China's Geely Automobile Holdings and French car maker Renault SA on Tuesday said they will invest up to 7 billion euros ($7.71 billion) in a new equally held joint venture to develop gasoline engines and hybrid technology for automobiles. The JV is aimed at manufacturing more efficient internal combustion engines and hybrid systems at a time when the focus of much of the automobile industry has been on the capital-intensive transition to purely electric vehicles. "We are pleased to be embarking on this journey to become a global leader in hybrid technologies, providing low-emission solutions for automakers around the world," said Eric Li, Geely Holding Group chairman. The new company will employ 19,000 people at 17 engine plants and five research and development hubs, Renault said. At launch, it is expected to supply to multiple industrial customers including Volvo, Proton, Nissan, Mitsubishi Motors, and PUNCH Torino. The JV aims to have an annual production capacity of up to five million internal combustion, hybrid and plug-in hybrid engines and transmissions, Renault added. Reuters reported in March that the new venture will see 15 billion euros ($16.53 billion) in annual revenue. Saudi Aramco, which signed a letter of intent with Renault and Geely in March, is evaluating a strategic investment in the new company, Renault said. The Saudi oil producer has been involved in advanced discussions to take a stake of up to 20% in the JV, sources said earlier this year. Big oil firms have worked with automakers to develop sustainable fuels and hydrogen engines in recent years. But a deal here would make Aramco the first major oil producer to invest in the car business. The joint venture is expected to be launched in the second half of 2023. Earnings/Financials Green Mitsubishi Nissan Volvo Renault

Strains between France and Italy risk Renault-FCA merger

PARIS/ROME — Fiat Chrysler's proposed $35 billion merger with Renault has cheered investors, won conditional support from Paris and Rome and even earned cautious backing from trade unions. Beneath this veneer, however, the bold attempt to create the world's third-largest carmaker risks becoming rapidly embroiled in the fraught relationship between France's europhile President Emmanuel Macron and Italy's euroskeptic leaders. For while Deputy Prime Minister Matteo Salvini hailed the proposal as a "brilliant operation," Italy's creaking, state-subsidized Fiat factories are likely to bear the brunt of any production-related cost savings. FCA and Renault said this week that more than 5 billion euros ($5.6 billion) of annual savings would come mainly from combining platforms, consolidating powertrain and electrification investments and the benefits of increased scale. Salvini and France's Finance Minister Bruno Le Maire, who called the deal a "good opportunity" to build a European industrial champion able to compete with China and the United States, have both said they want guarantees on local jobs. "It's not every day that I agree with Salvini," said Le Maire, whose government appears to hold the trump cards. When it comes to where any job cuts fall, France will be helped by its existing 15 percent holding in Renault, whose superior efficiency at its five French plants makes it better placed to handle a supply glut, the demise of the petrol engine and the investments needed for electric and autonomous vehicles. "It will take many, many years to find real savings, and ugly political and operational realities can often swamp the potential of such new entities," Bernstein analyst Max Warburton said of the FCA-Renault plan to rival Japan's Toyota and Germany's Volkswagen. Advantage France? As well as Italy's government having to cope with the aftermath of European elections, which coincided with news of the FCA-Renault plans, political leaders in Rome were only informed shortly before the deal was made public, an FCA source said. This contrasted with the way the French government was treated, with Fiat Chrysler Chairman John Elkann, a fluent French speaker, letting it know of his merger proposal to Renault weeks ago, a French government official said.

48-MPG Nissan X-Trail Hybrid comes to Japan

Next month, Nissan will start selling a hybrid version of its X-Trail compact crossover in Japan. While the Japanese automaker is touting all the bells and whistles like "Intelligent Parking Assist," the model really makes its mark in fuel economy figures. The marquee number is 20.6 kilometers per liter, or about 48 miles per gallon. This is using the more lenient Japanese driving cycle, but it's still something to be proud of. The model also delivers more torque than that typically generated by a 2.5-liter engine while cutting nitrogen oxide emissions by 75 percent relative to the standard gas-powered version. In fact, the X-Trail Hybrid will generate tax exemptions because of its high fuel economy. The model's price in Japan will range from about $23,300 for the base two-wheel-drive version to about $27,000 for the top-of-the-line all-wheel-drive version. The Nissan X-Trail Hybrid goes on sale in Japan May 13. We'd first reported on the X-Trail when it was unveiled at the Frankfurt Motor Show in September 2013, noting at the time that the car's styling was identical to that of the Nissan Rogue. Take a look at Nissan's press release for the X-Trail is available below. Nissan Releases New X-TRAIL HYBRID YOKOHAMA, Japan (April 7, 2015) - Nissan Motor Co., Ltd. today announced the launch of the new Nissan X-Trail Hybrid, which goes on sale on May 13, 2015 at Nissan dealers throughout Japan. The current generation X-Trail has garnered good reviews from customers for its excellent driving performance, realized by features such as its ALL MODE 4X4-i system and advanced chassis control technologies that have been adopted as world-firsts – as well as a variety of safety features such as Emergency Brake and Around View Monitor with Intelligent Parking Assist. Equipped with the 2.0-liter MR20DD hybrid engine that enables both driving and environmental performance, the new X-Trail Hybrid delivers a comfortable driving experience with its powerful acceleration and remarkable quietness, which eclipse those of typical 2.5-liter gasoline engines. In addition, all the grades achieve tax exemptions. In addition, the new X-Trail Hybrid will have Forward Emergency Braking as standard equipment, expanding its safety technology features. Nissan is planning to introduce Forward Emergency Braking as standard on major models in Japan, by the end of autumn 2015.