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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.

Nissan poised to nearly double exports from US by 2015 [w/video]

As a part of a plan to double its US export volume by 2015, Nissan started shipping 2014 Pathfinder SUVs from its plant in Smyrna, TN to Australia and New Zealand. These Pathfinders are not only the first right-hand-drive models Nissan has exported from the US, but their 10,000-mile journey through the Gulf of Mexico and across the Pacific is also the automaker's furthest export.
Products from the Smyrna plant are exported to 61 different countries, and Nissan's export volume from the US will account for around 14 percent of its production this year, which is two percent more than 2012. Helping all this is the fact that by early next year, Nissan's production in North and South America will top two million units thanks to added capacity in the US and new plants in Mexico and Brazil. An official video made to look like a news feature joins the press release from Nissan posted below.

Renault's planned luxury sub-brand gets reconsidered

Renault believes there's enough Alpine love to restart that brand with its own model almost immediately. The launch of the Initiale Paris luxury brand it's been mulling, on the other hand, will be more restrained: a report in Autocar says that instead of launching with a first model based on the Mercedes E-Class architecture, Renault is going to introduce an Initiale Paris trim line on the new Clio and Espace. More accurately, that should be 're-introduce and aggressively market,' since Renault has used an Initiale Paris trim over the years since it introduced the concept car (pictured) in 1995, even as recently as the current-generation Laguna Coupe.
Other models will be added after the Clio and Espace, and when Renault can assess what kind of future the trim has, it will decide on the launch of a subsidiary brand. Company CEO Carlos Tavares said we shouldn't hang around waiting for a decision, though, declaring that establishing such a brand - if it even comes to that - "will be a job for at least my successor to worry about, not me."