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Nissan, Mitsubishi confirm plans to invest in Renault EV unit Ampere

PARIS — Renault's longstanding alliance partners Nissan and Mitsubishi confirmed plans to invest in the French car maker's electric vehicle unit Ampere and use it to develop EVs for the European market, the companies said on Wednesday. After years of contentious partnership, the announcement on Wednesday confirms that the new alliance between the three automakers is smaller and more pragmatic, focusing on regional cooperation. Nissan and Mitsubishi confirmed they would invest respectively up to 600 million euros ($647.46 million) and 200 million euros in Ampere, which has been carved out from the rest of Renault and is due for a public listing next year. Nissan will become "a strategic investor" in Ampere, Makoto Uchida, CEO of the Japanese car marker told reporters, adding the company may use the EV unit's software and connectivity innovations in other markets outside Europe. "Developing electric vehicles all over the world alone would be very challenging," he said. Ampere will develop and manufacture an electric version of the compact Nissan Micra for the European market and a medium-sized electric SUV for Mitsubishi. Renault CEO Luca de Meo said Ampere will cut the costs for the Micra for Nissan by 50%. The alliance partners also confirmed their joint projects in Latin America and India. In September, Renault, Nissan and Mitsubishi ended their common purchasing agreement, which they said would allow them to focus on individual projects and adapt more quickly to regional differences in automotive markets. At the end of July, Renault and Nissan finalised the terms of a restructured alliance after months of negotiations. Talks dragged on for months longer than expected due in part to Nissan, which was concerned about protecting its intellectual property in future collaborations. Related video: Earnings/Financials Green Mitsubishi Nissan Renault Electric

Recharge Wrap-up: Renault-Nissan at COP21, fast charging viability

Nissan and Renault's combined fleet of 200 EVs drove over 175,000 kilometers (about 108,700 miles) during the COP21 environmental summit in Paris. The largest fleet of EVs for any international conference served as shuttles for attendees, saving almost 182 barrels of oil and 18 tons of CO2 emissions. In addition to providing the Nissan Leaf, Nissan e-NV200, and Renault Zoe EV shuttles, the Renault-Nissan Alliance also set up a network of 90 chargers to support the fleet. 13 of the 27 quick and semi-quick chargers will remain in place for public use. Read more in the press release below.Siemens names Ann Arbor, Michigan for its first Center of Excellence for Intelligent Traffic Technology. The company will implement new and upgrade existing traffic technologies in the city, including cloud-based traffic management software, local controller software and an adaptive traffic control system designed to improve traffic flow and safety. In a college town with highly varying numbers of students and visitors throughout the year, "the need to move traffic in and out of the city efficiently is crucial not only for economic and environmental impacts, but for quality of life for Ann Arbor residents," says Marcus Welz, president of Siemens Intelligent Traffic Systems. Many Ann Arborites (your author included) would surely agree. Read more at Green Car Congress, or in the release from Siemens.A study in Ireland found that public fast charging could soon become commercially viable. The researchers found parking spots to be the most popular public charging locations, and that fast chargers saw the most frequent use, suggesting commercial viability for the infrastructure in the short- to medium-term. The study also found that most drivers prefer to charge at home, and do so during peak hours. Incentivization could be necessary to break people from this habit. Read more at Green Car Congress.

Nissan to pull out of venture fund with Renault in cost-cutting drive, insiders say

TOKYO — Nissan is likely to pull out from a venture capital fund it runs with alliance partners Renault and Mitsubishi Motors, as part of the Japanese automaker's drive to cut costs and conserve cash, two sources said. Nissan will formally take a decision on whether to leave the fund, Alliance Ventures, by the end of this month, the two Nissan insiders told Reuters, declining to be identified because the information has not been made public. The likely move comes after Nissan's junior partner, Mitsubishi Motors Corp, told an alliance meeting last week that it would no longer continue to inject money into the fund, one of the sources said. The decision to leave the Amsterdam-based fund was all but a done deal, the other source said, adding: "Of course we're out. The house is on fire." A Nissan spokeswoman said it was speculation and declined to comment. A Mitsubishi spokesman said no decision had been made. The move comes as Nissan — which has seen its earnings slump — is now facing a downturn in China, its biggest market, due to the impact of the coronavirus outbreak. China sales plunged 80% last month. It also highlights the extent of the automaker's cost-cutting under new CEO Makoto Uchida, who is under pressure for a quick turnaround. Alliance Ventures is aimed at finding "learning opportunities" for the alliance through investing in startups, and is supposed get up to $200 million (153.3 million pounds) a year from the three alliance partners, although it never achieves that full amount, the first source said. It was set up under former alliance head Carlos Ghosn, whose dramatic arrest in Japan culminated in an escape to his childhood home of Lebanon in December. Ghosn faces multiple charges in Japan, including of under-reporting earnings and misappropriation of company funds, all of which he denies. According to its website, the fund was set up with a $200 million initial investment and aims for up to $1 billion by 2023. Portfolio companies include WeRide, a Chinese robo-taxi startup and Tekion Corp, a cloud-based retail platform for cars. "It wasn't established by Ghosn as a way to make money. It was for those learning opportunities we get from investing in smart startups," the first source said. "But given the tough financial situation we are facing, we are looking at investment return." Reporting by Norihiko Shirouzu; Editing by David Dolan/Louise Heavens/Susan Fenton.