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Renault keeps 15% stake in Nissan, transfers majority of shares to French trust

Renault and Nissan completed a landmark deal to rebalance their 24-year-long alliance, paving the way for a new relationship after years of acrimony between the two partners. The automakers on Wednesday announced the creation of a French trust to which Renault transferred 28.4% of Nissan shares. The companies first disclosed plans for the trust in January. Renault Group and Nissan now have a cross-shareholding of 15% with lock-up and standstill obligations, the companies and junior alliance partner Mitsubishi Motors Corp. said in a statement. Renault managers in recent weeks have reiterated that staff should no longer share information with their Nissan counterparts, according to people familiar with the situation, after the French carmaker announced in September that aspects of the alliance would be unwound by year-end.  Taken together with the deal to equalize their cross-shareholdings at 15%, the developments are the clearest indications yet that members of one of the world’s biggest automotive tie-ups are increasingly going their separate ways. Renault told employees in September it was moving away from common structures with Nissan in favor of a new, project-by-project approach to working together. The dissolution of the companiesÂ’ joint purchasing organization means the two will no longer pool information on a regular basis due to antitrust concerns. The sell-down of shares held by the trustee will be coordinated with Nissan, which will have the right of first offer to purchase the stock. The trust will have no obligation to sell the shares within a specific or pre-determined period of time. The new alliance deal presented to investors in London in February followed months of tense negotiations that nearly collapsed late last year due to sticking points on intellectual property and disagreement over the valuation of RenaultÂ’s electric-vehicle and software arm Ampere, in which Nissan has agreed to invest. The alliance dates back to 1999, when Renault rescued Nissan with a cash injection and the two formed one of the biggest auto partnerships in the industry. Rivalries and mutual suspicion mounted over the years and came to a head when former leader Carlos Ghosn openly contemplated merging the two companies, contributing to his downfall.

Zombie cars roundup: Dodge has sold 3 new Vipers this year

Car models come and go, but as revealed by monthly sales data, once a car is discontinued, it doesn't just disappear instantly. And in the case of some models, vanishing into obscurity can be a slow, tedious process. That's the case with the 12 cars we have here. All of them have been discontinued, but car companies keep racking up "new" sales with them. There are actually more discontinued cars that are still registering new sales than what we decided to include here. We kept this list to the oldest or otherwise most interesting vehicles still being sold as new, including a supercar. We'll run the list in alphabetical order, starting with *drumroll* ... BMW 6 Series: 55 total sales BMW quietly removed the 6 Series from the U.S. market during the 2019 model year. It had been available in three configurations, a hardtop coupe, a convertible and a sleek four-door coupe-like shape.   BMW i8: 18 total sales We've always had a soft spot for the BMW i8, despite the fact that it never quite fit into a particular category. It was sporty, but nowhere near as fast as similarly-priced competitors. It looked very high-tech and boasted a unique carbon fiber chassis design and a plug-in hybrid powertrain, but wasn't really designed for maximum efficiency or maximum performance. Still, the in-betweener was very cool to look at and drive, and 18 buyers took one home over the course of 2021.   Chevy Impala: 750 total sales The Impala represented classic American tastes at a time when American tastes were shifting away from soft-riding sedans with big interior room and trunk space and into higher-riding crossovers. A total of 750 sales were inked last year.   Chrysler 200: 15 total sales The Chrysler 200 was actually a pretty nice sedan, with good looks and decent driving dynamics let down by a lack of roominess, particularly in the back seat. Of course, as we said regarding the Chevy Impala, the number of Americans in the market for sedans is rapidly winding down, and other automakers are following Chrysler's footsteps in canceling their slow-selling four-doors. Even if Chrysler never really found its footing in the ultra-competitive midsize sedan segment, apparently dealerships have a few leftover 2017 200s floating around. And for some reason, 15 buyers decided to sign the dotted line to take one of these aging sedans home last year.

Recharge Wrap-up: Tesla will sell Model S on Alibaba in China, Wrightspeed electrifies garbage trucks

Tesla will sell cars in China using Alibaba's Tmall website. Customers will be able to use the Chinese shopping site to place an $8,200 deposit toward a Model S. Tmall will feature 18 preconfigured versions for customers to choose from, which won't offer quite the level of customization as Tesla's US site. Bloomberg's Jamie Butters calls it a "defensive move" on Tesla's part, and still expects the company to sell cars in China the traditional way. Watch the video at Bloomberg or read more at Bidness Etc. Tesla co-founder Ian Wright's company Wrightspeed is converting garbage trucks to EVs. The same brand that created the exciting X1 EV is making trash collection much cleaner. "Garbage trucks are the perfect driving cycle for us: they get two or three miles per gallon, drive 130 miles a day with 1,000 hard stops that chew on the brakes," says Wright. The system puts an electric motor at each of the truck's drive wheels, and includes an on-board generator that runs on diesel or natural gas to extend driving range. Read more at Xconomy. British company Hillside Leisure is converting the Nissan e-NV200 into a camper van. The electric RV, called the DalburyE, debuted at the UK's Motorhome and Caravan Show in Birmingham. It sleeps up to four people, and features a pop-up roof, a gas stove, fridge, sink and other amenities. It's a great way to take full advantage of an RV park's electrical outlet to charge the van while camping in it. Read more at Transport Evolved, and see more photos at Hillside Liesure's blog. Featured Gallery Tesla Model S View 10 Photos Related Gallery Nissan e-NV200 Electric Van View 24 Photos News Source: Bloomberg, Bidness Etc, Xconomy, Transport EvolvedImage Credit: Tesla Green Nissan Tesla Electric recharge wrapup