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Renault to propose joint holding company with Nissan, Nikkei reports

TOKYO — Renault SA will propose to Nissan Motor Co a plan to create a joint holding company that would give both firms equal footing as the French automaker seeks further integration with its Japanese partner, the Nikkei newspaper reported on Friday. Under the proposal, both firms would nominate a nearly equal number of directors to the new company in which ordinary shares in both Nissan and Renault would be transferred on a balanced basis, the newspaper said, without citing sources. This would effectively dilute the stake held by the French government in Renault to around 7-8 percent, from its current 15 percent, it added. The new company would be headquartered in a third country, such as Singapore. Renault plans to make the proposal to Nissan soon, the Nikkei said, having modified an earlier merger idea that Nissan rejected on April 12. Nissan declined to comment on the issue. The Financial Times newspaper reported that both Nissan and the Japanese government have refused to engage in merger talks with Renault. The report of the proposal comes as the outlook for the alliance — one of the world's top automaking partnerships — has clouded since the arrest in November of its main architect, Carlos Ghosn, for suspected financial misconduct. It also comes as Nissan's financial performance struggles following years of focusing on volume sales over building its brand, particularly in the United States, its biggest market. Nissan slashes its forecast This week, the Japanese automaker slashed its profit forecast for the year just ended to its lowest in nearly a decade, citing weakness in its U.S. operations. Renault for years has been vying for a closer merger with Nissan, which it rescued from the brink of bankruptcy two decades ago. Ghosn had been working to achieve a deeper integration before his arrest on financial misconduct charges in November last year. While the automakers have been consolidating many of their operations over the past decade, including procurement and production, many executives at Nissan have opposed an all-out merger with Renault. Instead, Nissan has argued for a more equal footing with Renault, which holds a 43 percent stake in its bigger partner. Nissan holds a 15 percent stake in Renault. It was unclear whether Renault would hold the casting vote in major decisions at the new company, as it did in Renault-Nissan B.V., a strategic management company jointly held by both companies that oversaw operations for the partnership.

What does a world-class downhill skateboarder drive? Something very cool

Kevin Reimer has an interesting career and a fascinating car. The resident of Vancouver, BC is a professional downhill skateboarder - which we now know is a thing you can be - who sees a lot of commonality between his extreme occupation and his cherry 1991 Nissan Skyline GT-R.
The subjects of the latest Petrolicious joint, Racing Champions, Reimer waxes philosophical about skateboarding and driving down some of the same routes. You'll not be surprised to hear that riding the curves of a mountain slope, be it on a deck or in a bucket seat, both rely on grip and nerve in various measure. Scroll down to see for yourself, and don't miss the rest of our Petrolicious library when you're done.

Nissan's Le Mans prototype V6 to power next GT-R

You can debate all you want about whether racing has any relevance to road cars. And while you're doing that, Nissan will be getting the most out of its GT-R LM Nismo. In fact, the latest reports indicate that the Japanese automaker will use the engine (or some version thereof) in the next-generation GT-R. The Nissan GT-R LM Nismo, for those who may have missed it, is the company's radical attempt to take on the Audis, Porsches and Toyotas of the top-tier LMP1 class in the FIA World Endurance Championship. And to do so at its flagship event, the 24 Hours of Le Mans. Only unlike its rivals, it's not a mid-engined, all-wheel-drive design; both the engine and the driven wheels are at the front end. That engine, however, isn't actually all that radical. It's a 3.0-liter twin-turbo V6 producing 550 horsepower. Potent, but nothing earth-shattering. In fact it's not far off from the 545-hp 3.8-liter unit in the current production GT-R. And according to Top Gear, in speaking with the racing program's director Ben Bowlby, it will be essentially the same engine that will power the next road-going GT-R. Now if you're thinking that something's missing here, you're right: the GT-R LM Nismo packs a lot more than 550 horses. It actually has over 1,250 on tap. The remaining 700 hp are kicked in by the electric component of the racing prototype's hybrid powertrain. The next GT-R is widely expected to incorporate hybrid technology as well, but it won't be good for 700 hp all on its own. And it will almost certainly be driving all four wheels like the current version. Related Video: