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FCA withdraws its offer to merge with Renault

UPDATE: Fiat Chrysler Automobiles released a statement confirming that it has withdrawn its merger offer, saying "it has become clear that the political conditions in France do not currently exist for such a combination to proceed successfully." The full statement can be read below our original story, which continues below. Fiat Chrysler has withdrawn its $35 billion merger offer for Renault, the Wall Street Journal and Bloomberg News reported on Wednesday. A source said that FCA had informed Renault it had withdrawn the offer after Renault's board of directors failed to reach a decision on the merger during a meeting that ran late into the night Wednesday. Instead, the board granted the French government's request to postpone its vote. The government wanted time to persuade Renault's reticent alliance partner Nissan. Renault's board issued a press release that said simply that it was "unable to take a decision due to the request expressed by the representatives of the French State to postpone the vote to a later Council." WSJ reported that Nissan's two members on Renault's board were balking, while the rest of the board favored the merger. The French government wouldn't it back the deal unless Nissan agreed to maintain its role in the Renault-Nissan alliance, sources said. Nissan had received little advance warning of the merger proposal and was balking. Apparently the French government thought Nissan could be brought around if given more time. "We should take our time to make sure that things are done well," French Finance Minister Bruno Le Maire told French television on Wednesday. When the French requested a delay and Renault's board granted it, FCA withdrew. The French state, which owns 15% of Renault, had also been seeking more influence over the merged company, firmer job guarantees and improved terms for Renault shareholders in return for blessing the $35 billion tie-up. The merger would have created the world's third-biggest automaker with combined sales of 8.7 million vehicles per year, and was intended to cut costs as the parties develop electric and autonomous vehicles. Read Fiat Chrysler Automobile's full statement below: FCA withdraws merger proposal to Groupe Renault June 5, 2019 , London - IMPORTANT NOTICE The Board of Fiat Chrysler Automobiles N.V. ("FCA") (NYSE: FCAU / MTA: FCA), meeting this evening under the Chairmanship of John Elkann, has resolved to withdraw with immediate effect its merger proposal made to Groupe Renault.

Recharge Wrap-up: Big Oil fails at renewable fuel, scientists study air with EVs, plug-in Panamera sales

Big Oil companies help keep renewable fuels out of your tank, a new report shows. No surprise there, right? The Renewable Fuels Association published a report card grading the country's largest retail gasoline chains on fuel offerings like E85 and E15. The report gave failing grades, with less than one percent of stations offering E15 or E85, to "Big Five" companies Exxon, BP, ConocoPhillips, Chevron and Shell, among other oil company and convenience/grocery store brands. The only major oil companies that didn't get an "F" were Valero (D), Cenex (B), and Marathon (A-). The eight companies that scored an A+ had at least 25 percent of their stations offering E85 or E15. Read more at Domestic Fuel.Leicester scientists are studying local air pollution using EVs. Beginning July 4, University of Leicester researchers began driving electric vehicles kitted out with special sensors to monitor air quality throughout the city (similar to how California does it). Now their emissions-free daily driving duties double as data collection for their studies. "By monitoring air quality as a seamless part of our daily transport system, we are providing a cost-effective way to help inform future policy and operational systems," says the University's Dr. Roland Leigh. Read more at Fleet News. "There is no doubt electric cars are the future." – Nissan's Andy Palmer Nissan is exploring the idea of taking its Leaf EV to India, but a lack of charging options is an obstacle. According to Nissan's chief planning officer Andy Palmer, "There is no doubt electric cars are the future. The product is there, what we need is infrastructure. Charging is a big challenge." Though Nissan stopped short of saying it (this time), this could possibly mean working with Mahindra, which said it is open to collaborating with other companies concerning EVs. Learn more in this article from the Hindustan Times and know that India is rolling out a plan to encourage the production and adoption of EVs. The National Electric Mobility Mission Plan will get over $2 billion in funding, and some of that will go toward creating a charging infrastructure (you hear that, Nissan?). This is good news for EV manufacturers, India's economy and people who enjoy breathing clean air. Read more at The Financial Express.Porsche has reported a significant sales increase, part of which is due to demand for the Panamera S E-Hybrid.

Recharge Wrap-up: Car2go launches in Brooklyn, Green Fleet Car of the Year Award announced

The Car2go carsharing service is starting operations in Brooklyn next month. Beginning October 25, the service will offer 400 Car2go edition Smart Fortwo vehicles for point-to-point travel. Members pay a one-time sign-up fee, and are charged by the amount of time the use the vehicle (fuel and insurance is free). Drivers can find a car using the Car2go app or website, and can return the car to any non-metered parking spot within the 36-square-mile Brooklyn Home Area. Car2go is offering free membership and 30 minutes of credit for those who sign up early with a special promotional code. Learn more in the press release below. Renault and the Eco2charge consortium are working to bring better EV charging to France. They are providing research and development aimed at turning simple charging stations into "fully fledged energy ecosystems" through a smart grid. This grid would coordinate charging, consumption and energy storage in a way that increases efficiency and decreases cost. Read more in the press release below. The Renault-Nissan Alliance could source EV batteries from suppliers other than Nissan, according to CEO Carlos Ghosn. This news comes after recent questions of whether or not Nissan would scale back battery production in the US and UK. Ghosn says, "At the moment, we continue to produce our own batteries and we are open to outside sourcing, period." He also denies any plans to shutter Nissan's battery production facility in Tennessee. One source of batteries the alliance will look to is Korea's LG Chem. Read more at Automotive News Europe. The first-ever Green Fleet Car and Truck of the Year Awards will be presented at the Los Angeles Auto Show. The presentation on November 20 will be part of the LA show's Connected Car Expo. Nominees are selected by Bobit Business Media, with finalists picked by readers of Green Fleet, Automotive Fleet, Work Truck and Business Fleet magazines. The winners will be chosen based on performance, fuel economy, emissions, safety, capacities and other similar factors. Read more in the press release below. car2go Heads To Brooklyn Brooklyn To Be First To Launch Point-To-Point Carsharing Service In New York City Area On October 25th car2go North America LLC, the fastest-growing global carsharing company, announced today that it will be launching its pioneering carsharing service in Brooklyn on October 25th, marking Brooklyn as car2go's 29th market and the very first in the New York City area.