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'Zero' chance of Renault taking over Nissan, Mitsubishi, says Ghosn

TOKYO — Renault SA absorbing Nissan Motor Co. and Mitsubishi Motors Corp is not an option as the carmakers look to strengthen their partnership while retaining their autonomy, alliance chairman Carlos Ghosn said on Friday. "Anybody who will ask Nissan and Mitsubishi to become wholly owned subsidiaries of Renault has zero chance of getting a result," Ghosn told shareholders of Mitsubishi Motors at a meeting. He also serves as chief executive of France's Renault. The alliance was the world's top-selling passenger vehicle maker in 2017, but as the global auto industry consolidates, it is looking to strengthen its position before the 64-year-old Ghosn, its main architect, retires in the coming years after overseeing the partnership for nearly 20 years. We reported in March that the carmakers were discussing a deeper tie-up, which could see the French government, a major shareholder in Renault, give up influence at Renault and the French carmaker relinquish control over Nissan. The three automakers have a unique partnership designed to leverage their combined scale to save on costs including R&D, parts procurement and production to better compete with rivals Volkswagen AG and Toyota Motor Corp. They are also interlinked by their shareholding structure. Renault holds 43.4 percent of shares in Nissan, while Nissan owns 15 percent of Renault, with no voting rights in a partnership that began in 1999. Mitsubishi Motors joined the alliance in 2016 after Nissan took a 34 percent controlling stake in the smaller automaker. Nissan CEO Hiroto Saikawa has said the alliance is not discussing a "full merger." Ghosn said that while the focus of the alliance was to sell more cars and increase profitability by reducing unnecessary duplication of processes, he wanted each of the three automakers to maintain their independence, which differentiated the group from Toyota and Volkswagen. "We need to work together ... to find a system by which what we have today, which is working very well, can continue in the future no matter who is leading the alliance," he said. "We need to prove that this is sustainable five years down the road, 10 years down the road, 15 years down the road." In a Figaro interview published last week, Ghosn was upbeat about the prospect of securing a new deal for the alliance despite its extreme political sensitivity in France and Japan, saying a plan would need to be announced "well before" the end of his four-year term at the helm of Renault in 2022.

Nissan cooks up throwback livery for Le Mans

Nissan may not have won the overall 24 Hours of Le Mans before – Mazda remains the only Japanese automaker to have done so – but when it returns to Le Mans this year, it will be armed with other bragging rights. And it's that past accomplishment that Nissan is celebrating with this throwback livery. Twenty-five years ago, Mark Blundell set a blistering qualifying lap in the No. 24 Nissan R90CK, lapping La Sarthe in 3:27.020. That was enough to put the Datsun on pole for the race, and though it never made it to the finish line, it set a record that stands to this day when it hit 227 miles per hour on the Mulsanne straight – even with the chicanes in place. That car wore a blue livery with white and red that still holds a place of honor in the hearts of racing fans. So to mark its return to Le Mans a quarter century later, Nissan is decking out its new GT-R LM Nismo in a tribute livery that will be worn by the third entry the company will be fielding in the race. Nissan celebrates 1990 pole lap of Le Mans with retro livery for LM P1 car LE MANS, France – Nissan today revealed a very special livery that will feature on the No.21 Nissan GT-R LM NISMO at Le Mans. Exactly 25 years ago, at the peak of the Group C era, Mark Blundell put the Nissan R90CK on pole position with a stunning 3:27.020 lap of the Le Mans circuit. The No.21 Nissan GT-R LM NISMO is Nissan's third LM P1 car that will be raced by current Super GT Champion Tsugio Matsuda (JAP) and two winners of GT Academy, Lucas Ordonez (ESP) and Mark Shulzhitskiy (RUS). The No.24 Nissan R90CK will also appear at Le Mans in a special parade to mark the anniversary of the pole lap in the hands of the man who took it to the top of the tables 25 years ago, Mark Blundell. The 1100bhp car may not reach speeds of 366 km/h (227 mph) as it did in 1990, but it is certain to grab everyone's attention. "That lap of Le Mans is certainly a very fond memory for me," said Blundell. "It was one of those moments where time stood still and everything went perfectly. You remember those moments, as they don't happen all that often. It's great to see Nissan celebrating that time with the retro livery on the #21 Nissan GT-R LM NISMO. I can't wait to see it on track at Le Mans." "Our racing heritage is hugely important to us," said Darren Cox, Global Head of Brand, Marketing & Sales, NISMO.

Carlos Ghosn, a year after arrest, still seeks trial date and access to evidence

TOKYO — A year after his arrest, Nissan ex-Chairman Carlos Ghosn remains stuck in Tokyo under stringent bail conditions and without a trial date as he seeks access to a trove of Nissan emails and other evidence to fight charges of financial misconduct. His lawyers have asked a court to grant access to 6,000 pieces of evidence collected from Nissan such as electronic communications, which they say is crucial for a fair trial, showed an Oct. 4 court filing seen by Reuters. The once-feted executive has spent 129 days in detention since his arrest shortly after his private jet touched down at a Tokyo airport on Nov. 19, 2018. He faces four charges — which he denies — including hiding income and enriching himself through payments to dealerships in the Middle East. Nissan sacked Ghosn, saying its internal investigations revealed misconduct ranging from understating his salary while he was its chief executive, and transferring $5 million of Nissan funds to an account in which he had an interest. An earlier court ruling allowed prosecutors to hand back evidence to Nissan during pretrial wrangling over witnesses and evidence similar to the U. S. discovery process. If prosecutors are "given the freedom to unilaterally delete the collected evidence and return it to relevant parties, this is equivalent to granting the investigative agencies the right to destroy evidence," showed the filing to the Tokyo District Court. The lawyers also asked the court to rescind the earlier ruling, saying some evidence could be erased by Nissan to protect confidential business information. They argued the "ruling deprives Mr. Ghosn of his right to receive a fair public trial by an impartial court," as it enabled prosecutors to view and use the evidence and withhold it from the defense. Prosecutors are not required to hand over all evidence they or the police gather during investigations unless ordered by the court, unlike in the U.S. discovery process where prosecutors and defense lawyers disclose the evidence they intend to present in court. A spokeswoman for the Tokyo prosecutors' office said the office could not comment on individual cases. A Nissan spokeswoman declined to comment. Ghosn's lawyers have also asked the court to dismiss all charges against him, accusing prosecutors of colluding with government officials and Nissan executives to oust him to block any takeover of the automaker by French alliance partner Renault SA, of which Ghosn was also chairman.