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Renault will split EV from combustion unit, seeks partnerships

PARIS — Renault has received several partnership proposals for the combustion engine unit it plans to create alongside one dedicated to electric vehicles and software, two sources familiar with the matter said. Renault plans to separate its electric and conventional car businesses, creating two entities to manage the shift towards fossil-free vehicles. "The group has already received partnership demands" for its internal combustion engine unit, one of the sources said. By bringing in partners on the combustion engine side Renault aims to free up funds to invest in electric vehicles, a technology in which it was a pioneer with Nissan and Mitsubishi, but in which it is now eclipsed by pure players such as Tesla. Renault intends to retain majority ownership of its electric division, which will employ about 10,000 people and which could be bourse-listed via an IPO in the second half of 2023. However, it will only remain a reference shareholder, not a controlling shareholder, of the combustion engine unit, which will have similar staff levels, said two other sources familiar with the plans. One of the sources said Renault may hang on to a 40% stake. Renault declined to comment. The carmaker at a capital market day this autumn will set out its plans for its electric arm based in France and the combustion unit headquartered abroad. That entity will include factories producing engines and gear boxes for gasoline and hybrid cars in Spain, Portugal, Turkey, Romania and Latin America. Among potential partners for its combustion engine business, CEO Luca de Meo in April mentioned Nissan, other automotive groups and long-term investors. De Meo is set to travel to Japan next month to discuss potential Japanese participation in its electric and combustion engine projects. Renault is undergoing a major restructuring aimed at restoring its finances and recently signed partnerships beyond its historical alliances with Nissan, Mitsubishi and Mercedes, such as with China's Geely Automobile Holdings. This month it sold 34% of its South Korean unit to Geely, which owns Volvo Cars and is a shareholder in Mercedes. With Geely, Renault plans to develop hybrid vehicles which will be assembled in its plant in Busan, South Korea. Earnings/Financials Green Mitsubishi Nissan Renault

Renault, Nissan attempt to calm rumors of impending split

TOKYO/PARIS — Shares in Renault recovered some lost ground on Tuesday after the French carmaker and its Japanese partner Nissan rejected media reports that their alliance was in danger of being dissolved. Some have openly questioned whether the alliance can survive without disgraced former CEO Carlos Ghosn to keep the two partners happy.  Renault shares fell to a six-year low on Monday after rumors circulated that its alliance with Nissan was in jeopardy. Nissan shares tumbled to their lowest in 8 1/2 years on Tuesday in Tokyo. At the opening of trading in Paris on Tuesday, Renault shares rose 1.3 percent, before falling back slightly to trade up 0.49 percent by 08:23 GMT. The alliance, which also includes Japan's Mitsubishi Motors, is "solid, robust, everything but dead," the chairman of Renault, Jean-Philippe Senard, told Belgian newspaper L'Echo. A split between the two automotive giants would force both to find new partners in a fast-consolidating industry that is growing increasingly difficult to navigate for independent companies. It will be especially difficult for Renault and Nissan, whose dirty laundry Ghosn intends to air for public consideration.   French Finance Minister Bruno Le Maire also weighed in, saying reports some executives wanted to break up the alliance were "malicious." Speaking to France's CNews TV, he also said he expected Renault to name a new chief executive within days to replace Thierry Bollore, a Ghosn-era appointee who was ousted in October. Luca de Meo, who stepped down as the head of Volkswagen's Seat brand last week, is seen as a frontrunner for the job, although a stringent non-compete clause in his contract firm may prove a hurdle, sources have told Reuters. Nissan, in response to "speculative international media reports," said it was "in no way considering dissolving the alliance." "The alliance is the source of Nissan's competitiveness," the Japanese automaker said in a statement. "Through the alliance, to achieve sustainable and profitable growth, Nissan will look to continue delivering win-win results for all member companies." Concerns emerged about the future of the Renault-Nissan partnership after the November 2018 arrest in Japan of Ghosn, the man who did more than anyone else to hold together the disparate alliance of often-contrasting carmaking cultures.

Nissan Sway displays the future of the compact hatch [w/videos]

Nissan is giving a glimpse at its future compact hatchback design with the Sway Concept at the 2015 Geneva Motor Show. The little, egg-shaped hatchback cribs styling elements from earlier show cars from the brand and mixes them together into an attractive five-door. Though, the company makes no mention of the model's powertrain. The Sway's most eye-arresting feature is its arching hood that leads to a deep, V-shaped grille similar to the Lannia Concept. The design element is flanked on both sides by boomerang-shaped LED headlights, and there's a splash of color from the orange accents under the air intakes. To draw the eye from front to rear, a crease flows over the fenders and then sweeps all the way back to the taillights. Nissan's floating roof motif also makes an appearance here, although it's not quite as obvious as on larger vehicles. As is common on show cars, the Sway has suicide doors with no B-pillar to let attendees in Switzerland have a good look inside. The interior appears to be an airy place to take a drive with a panoramic glass roof, and a windshield that rises up over the front occupants' heads. The driver gets a simple instrument cluster that's dominated by just two gauges, but there's a tablet at the center of the dashboard to provide extra info. According to Nissan, the whole point of the Sway's design is to take compact hatchback styling in a bolder direction. The first video below shows off even more angles, and the second has some of the brand's designers going in depth about the car's shape. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Nissan rethinks the compact hatchback: Introducing the Sway Concept Bold design theme showcases new design language Edgy exterior matched by elegantly simple interior Created to bring fresh, high-end thinking to compact hatchback segment GENEVA – Innovative design and product planning gave birth to the Qashqai and Juke, two of the biggest automotive success stories in recent years. Now the company has applied the same radical thinking to one of the most important sectors of the market: the compact hatchback. Unveiled at the Geneva Show, the Sway is a glimpse at how a future generation of compact Nissan models might look if the company's striking new design language was applied to a European hatchback.