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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

Renault names new leaders as jailed Carlos Ghosn bows out

PARIS — Renault appointed Michelin boss Jean-Dominique Senard as its new chairman on Thursday, after Carlos Ghosn was forced to resign in the wake of a financial scandal that has rocked the French carmaker and its alliance with Japan's Nissan. Senard will become chairman immediately, the company said, with deputy chief executive Thierry Bollore taking over Ghosn's other Renault role as full CEO. The appointments may begin to ease a Renault-Nissan leadership crisis that erupted after Ghosn's Nov. 19 arrest in Japan and swift dismissal as Nissan chairman. Senard, 65, now faces the task of soothing relations with Renault's Japanese partner and resuming talks on a new alliance structure to cement the 20-year-old partnership. "It's important that this alliance remain extremely strong," Senard told reporters after a board meeting - citing the mounting investment demands of new vehicle technologies. "It is our compulsory duty to go forward together." Ghosn's exit also marks a clear end to one of the auto industry's most feted careers, two decades after he was despatched by former Renault boss Louis Schweitzer to rescue newly acquired Nissan from near-bankruptcy — a feat he pulled off in two years. After 14 years as Renault CEO and a decade as chairman, Ghosn formally resigned from both roles on the eve of the board meeting. Ghosn's arrest and indictment for financial misconduct has strained the Renault-Nissan relationship, threatening the future of the industrial partnership he transformed into a global carmaking giant over two decades. For two months, the tensions deepened as Renault and the French government stuck by Ghosn despite the revelation he had arranged to be paid tens of millions of dollars in additional income, unbeknownst to shareholders. Ghosn has been charged with failing to disclose more than $80 million in additional compensation for 2010-18 that he had agreed to be paid later. Nissan director Greg Kelly and the Japanese company itself have also been indicted. Both men deny the deferred pay was illegal or required disclosure, while not contesting the agreements' existence. Ghosn has denied a separate breach of trust charge over personal investment losses he temporarily transferred to Nissan in 2008. Ghosn had agreed in recent days to step down from Renault, Reuters reported on Tuesday — but only after the French government, Renault's biggest shareholder, called for leadership change and his bail requests were rejected.

Recharge Wrap-up: BMW, Nissan team up on chargers, CNN loves Tesla Model X

CNN Money calls the Tesla Model X "the new king of crossover SUVs." In its round-up of its favorite luxury SUVs of 2015, CNN places the electric ute on the top of its list. The Model X's EV powertrain, excellent acceleration and handling and cool design and technology features (including much attention paid to its slick Falcon Wing doors) earn it high praise. See the video above, and read more at CNN Money or from Clean Technica. Tesla has plans to open offices in Korea and South Africa. Tesla has registered in Korea as Tesla Korea Limited under co-CEOs Todd Maron (Tesla general council) and Susan Repo (Tesla Financial Services). It will have an office near Seoul. Tesla is also reportedly opening an office in South Africa in January, with GreenCape CEO Evan Rice acting as Business Development Manager. Rice will work to build a market for Tesla's PowerPack stationary energy storage systems. Read more from Korea Times, from htxt and from Teslarati. BMW and Nissan are partnering to build 120 new fast charging stations in the US. The public, 50-kW DC chargers, operating on the Greenlots charging network, will be deployed in 19 states in order to support Nissan Leaf and BMW i3 drivers, and to help promote EV adoption in the US. The chargers will support both CHAdeMO and SAE Combo charging. "Together with Nissan, we are focused on facilitating longer distance travel so that even more drivers will choose to experience the convenience of e-mobility for themselves," says BMW's Manager of Connected eMobility, Cliff Fietzek. Kia also recently partnered with Greenlots to provide charging for Soul EV drivers. Read more in the press release below. BMW AND NISSAN PARTNER TO DEPLOY DUAL FAST CHARGERS ACROSS THE U.S. TO BENEFIT ELECTRIC VEHICLE DRIVERS • A total of 120 dual-port 50kW DC Fast-charging stations have been installed across 19 states to support longer distance electric vehicle travel for Nissan LEAF and BMW i3 drivers. • These publicly available Greenlots-networked charging stations include both CHAdeMO and CCS (Combo) connectors, suitable for all DC Fast charging-capable electric vehicles in the U.S. WOODCLIFF LAKE, NJ and NASHVILLE, TN - December 21, 2015... BMW and Nissan are joining forces to offer public DC Fast charging at 120 locations across 19 states in an effort to support Nissan LEAF and BMW i3 customers and to promote increased adoption of electric vehicles (EVs) nationwide.