Great 4 Door Truck! Tow Hitch! 4x4! Truck Box! on 2040-cars

Auto blog

Renault keeps 15% stake in Nissan, transfers majority of shares to French trust

Renault and Nissan completed a landmark deal to rebalance their 24-year-long alliance, paving the way for a new relationship after years of acrimony between the two partners. The automakers on Wednesday announced the creation of a French trust to which Renault transferred 28.4% of Nissan shares. The companies first disclosed plans for the trust in January. Renault Group and Nissan now have a cross-shareholding of 15% with lock-up and standstill obligations, the companies and junior alliance partner Mitsubishi Motors Corp. said in a statement. Renault managers in recent weeks have reiterated that staff should no longer share information with their Nissan counterparts, according to people familiar with the situation, after the French carmaker announced in September that aspects of the alliance would be unwound by year-end.  Taken together with the deal to equalize their cross-shareholdings at 15%, the developments are the clearest indications yet that members of one of the world’s biggest automotive tie-ups are increasingly going their separate ways. Renault told employees in September it was moving away from common structures with Nissan in favor of a new, project-by-project approach to working together. The dissolution of the companiesÂ’ joint purchasing organization means the two will no longer pool information on a regular basis due to antitrust concerns. The sell-down of shares held by the trustee will be coordinated with Nissan, which will have the right of first offer to purchase the stock. The trust will have no obligation to sell the shares within a specific or pre-determined period of time. The new alliance deal presented to investors in London in February followed months of tense negotiations that nearly collapsed late last year due to sticking points on intellectual property and disagreement over the valuation of RenaultÂ’s electric-vehicle and software arm Ampere, in which Nissan has agreed to invest. The alliance dates back to 1999, when Renault rescued Nissan with a cash injection and the two formed one of the biggest auto partnerships in the industry. Rivalries and mutual suspicion mounted over the years and came to a head when former leader Carlos Ghosn openly contemplated merging the two companies, contributing to his downfall.

Investigators say Mitsubishi mpg scandal was 'collective failure'

Investigators hired by Mitsubishi Motors to probe why the Japanese automaker engaged in falsifying fuel-economy figures for the past quarter-century faulted the company's "corporate culture." Specifically, there was a lack of unity between divisions, company-wide pressure to boost fuel-efficiency numbers, and an unwillingness to accept fuel-economy shortfalls, Automotive News says, citing comments made by consultants who hired by the company to investigate the problems. Challenging management authority even if it was proper to do so was also frowned upon. One of the investigators called the scandal "a collective failure." Among other suggestions, the consultants recommended that Mitsubishi's vehicle-mileage certification be independent from research and development, that there's greater transparency overall, and that there's a more thorough understanding of laws. New shareholder Nissan may also invest in retooling Mitsubishi's R&D operations, and is sending one of its former executives, Mitsuhiko Yamashita, to Mitsubishi to try to prevent any sort of repeat problems. Mitsubishi joined a list of automakers including Volkswagen, Hyundai/Kia, and Ford that have been found in recent years to either mislead with its published fuel-efficiency figures or emissions-testing procedures. A Nissan spokesman declined to comment on the Mitsubishi report, according to Automotive News. The recommendation comes less than three months after the announcement that Nissan would help rescue Mitsubishi from its fuel-economy scandal by acquiring part of the company. Nissan agreed in May to pay $2.2 billion for a 34-percent stake in Mitsubishi, and said at the time that Mitsubishi would join the Renault-Nissan Alliance. Nissan also owns 15 percent of France-based Renault. That announcement came right after Mitsubishi's admission that it may have falsified fuel-economy data for every one of its vehicles made in Japan dating back to 1991. Related Video: News Source: Automotive NewsImage Credit: Tomohiro Ohsumi/Getty Images Green Mitsubishi Nissan Fuel Efficiency scandal diesel scandal

Recharge Wrap-up: Renovo Coupe at CES, Aussies tour US in Tesla Model S

Australians review the Tesla Model S in a Seattle to LA road trip video. The folks from CarAdvice drive the P85+ along the West Coast of the US, testing out the car, trying the Superchargers, stopping by some notable sites along the way and even making use of roadside assistance. While the video shows what it's like to take the Tesla on a US road trip, it gives viewers Down Under a glimpse of their own future. Tesla just began sales in a country that, while on the other side of the globe, also features long distances between cities and a new Supercharger network. Check out the video below or read more at Inside EVs. A UK taxi company is introducing the Nissan e-NV200 to its fleet. C&C Taxi, which has been using six Nissan Leafs in its Cornwall taxi service since early December, has added the passenger-ready e-NV200 Combi to its stable of cabs. Mark Richards, manager of C&C's fleet, is happy with its performance and money saved after over 1,000 miles of service so far, and plans to replace the rest of the diesel fleet with EVs. The Nissan e-NV200 Combi "does everything the Leaf does but is much bigger and offers more space," says Richards. "We'll definitely be ordering more." Learn more in the video below or read more at Hybrid Cars. Learn more about Nissan's fleet EVs at the company's website. The US Department of Energy has released a new report on EV charging behavior and its impact on the grid. The report, which covers grant projects from six different utilities, includes data from over 270 public chargers and 700 residential charging units. Most at-home charging took place at night during off-peak hours. There were some reports of problems with chargers and smart meters working together. Most public charging took place during peak hours, but was low compared to home charging. This means a longer cost recovery period due to the high cost of installation. See the report at the DOE website or read more at Green Car Congress. The Renovo Coupe will be on display at the NVIDIA booth at the 2015 Consumer Electronics Show (CES) for its first public viewing. Renovo Motors CEO Christopher Heiser says, "These are very exciting times for Renovo and we think our new technology, coupled with NVIDIA's breakthroughs in automotive applications, has the potential to make a tremendous impact across the entire automotive industry." The Shelby Daytona-bodied Renovo offers 500 horsepower and 1,000 pound-feet of torque from two electric motors.