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Nissan and Renault shelve merger plans, will repair their alliance

Renault and Nissan have shelved plans to push towards the full merger former leader Carlos Ghosn craved and will instead fix their troubled alliance to try to recover from the coronavirus pandemic, five senior sources told Reuters. Nissan has long resisted Renault's proposals for a full-blown merger as executives felt the French carmaker was not paying its fair share for the engineering work it did in Japan, sowing discord that some feared could wreck the partnership. Now, with carmakers around the world reeling from the pandemic, the partners are planning to overhaul an alliance that largely failed to convert its global scale into a competitive advantage beyond the joint procurement of parts. Both struggling carmakers are set to announce mid-term restructuring plans this week that will serve as a peace treaty designed to resolve the long-standing tensions, five people familiar with the overhaul told Reuters. "After the rain, the earth hardens," said one senior Nissan source, citing a popular Japanese proverb that means relationships become stronger after a period of strife. All five sources within the alliance, which also includes Mitsubishi, declined to be named because they are not authorized to speak with media. Nissan and Renault are each planning substantial restructuring and cost cuts that could affect tens of thousands of jobs, with the Japanese company to announce its measures on May 28 and its French partner likely to follow the next day. Before that, Mitsubishi, Nissan and Renault are holding a joint news conference on May 27 during which they are expected to outline the philosophy behind their new "leader-follower" approach to the alliance. The sources said the companies were unlikely to disclose many details at the events this week of how the new approach will be used to share costs as the companies were still working on specific projects. However, the crisis at both carmakers has accelerated efforts to resolve the disagreements that have stymied collaboration and cost-sharing in technology and product development for five years, the sources said. Mitsubishi, Nissan and Renault all declined to comment officially about alliance plans. 'Leader-follower' The alliance has steadily ramped up output over the years, delivering over 10 million vehicles for the first time in 2017, the first full year after Mitsubishi joined the partnership.

Renault board names Ghosn stand-ins, as tensions with Nissan increase

PARIS/TOKYO — French carmaker Renault tapped its chief operating officer and a senior board member to fill in for embattled boss Carlos Ghosn, after an investigation by alliance partner Nissan led to his arrest on suspicion of financial misconduct. Thierry Bollore, Ghosn's operational second-in-command, will become deputy chief executive, while lead independent director Philippe Lagayette assumes the function of interim chairman, Renault said after a board meeting late on Tuesday. But the board refrained from firing Ghosn while awaiting more detail on the allegations — in a decision that could also buy more time for an accelerated, permanent succession process. "Mr. Ghosn, temporarily incapacitated, remains Chairman and Chief Executive Officer," Renault said in a statement. "During this period, the board will meet on a regular basis under the chairmanship of the lead independent director." Ghosn, one of the car industry's best-known leaders, was arrested on Monday after Nissan said he had engaged in years of wrongdoing, including personal use of company money and under-reported earnings. The Japanese company plans to remove him as chairman on Thursday. The French government, Renault's biggest shareholder, had begun to distance itself from Ghosn, calling for new interim leadership before the meeting, as the Japanese investigation expanded to include Renault-Nissan alliance finances. "Carlos Ghosn is no longer in a position where he is capable of leading Renault," Finance Minister Bruno Le Maire said earlier in the day. "Renault has been weakened, which makes it all the more necessary to act quickly." Statements by Le Maire, Renault and its board all echoed French preoccupations over the future of the alliance first articulated by President Emmanuel Macron within hours of Ghosn's arrest on Monday. Following talks between Le Maire and his Japanese counterpart Hiroshige Seko on Tuesday, the ministers reaffirmed their "shared wish to maintain this winning cooperation." But in a sign that Nissan may now seek to loosen its French parent's hold on the partnership, the Japanese company informed Renault it also had evidence of potential wrongdoing at Renault-Nissan BV, the Dutch venture overseeing alliance operations under Renault's ultimate control, three people with knowledge of the matter told Reuters.

Nissan really milking this whole glow-in-the-dark Leaf thing

With the all-electric Nissan Leaf forgoing gas in favor of electricity, one doesn't generally associate the Leaf with anything involving "gallons." But the Japanese automaker has apparently gone all-in with this glow-in-the-dark paint shtick, and it has a Guinness World Record to prove it. For art's sake. Artist Ian Cook, of Popbangcolour, set out to create the world's largest glow-in-the-dark painting, and got a little help from a Leaf equipped with special paint that absorbs ultraviolet energy during the day, and can glow for as long as 10 hours at night. With the paint applied to the car's tires, the vehicle helped draw, yes, a "self-portrait." The painting, which took more than two days to complete and about 16 gallons of luminous acrylic paint on a giant PVC-coated canvas, measures more than 2,200 square feet, beating out the previous record of about 1,800 square feet set early last year. Earlier this year, Nissan started publicizing its work with inventor Hamish Scott at creating a special coating that gives that glow-in-the-dark effect and is even fully organic. The same type of paint was used along about a third of a mile along a Dutch "Smart Highway" whose stripes absorb rays during the day and glow at night. Cool. To see the nighttime friendly Leaf in action, take a look at Nissan's 84-second video about the big painting here and read Nissan's press release below. Glow-in-the-dark Nissan LEAF breaks Guinness World Records title for "Largest Glow-in-the-Dark Painting" Nissan uses glow-in-the-dark Nissan LEAF to achieve Guinness World Records title for the Largest Glow-in-the-Dark Painting title Artist Ian Cook, of Popbangcolour, used the tires of the LEAF to drive the glow-in-the-dark paint across the canvas Guinness World Records has confirmed that the painting, measuring 207.68m2, has broken the previous existing "Largest Glow-in-the-Dark Painting" Guinness World Records title LONDON – Nissan has broken the Guinness World Records title for the Largest Glow-in-the-Dark Painting by using the glow-in-the-dark Nissan LEAF to paint a 207.68m2 self-portrait of the 100-percent electric car. The painting, which depicts the front of a Nissan LEAF, was created by maverick motoring artist Ian Cook of Popbangcolour.