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Geely and Renault joint venture will develop internal combustion and hybrid tech

China's Geely Automobile Holdings and French car maker Renault SA on Tuesday said they will invest up to 7 billion euros ($7.71 billion) in a new equally held joint venture to develop gasoline engines and hybrid technology for automobiles. The JV is aimed at manufacturing more efficient internal combustion engines and hybrid systems at a time when the focus of much of the automobile industry has been on the capital-intensive transition to purely electric vehicles. "We are pleased to be embarking on this journey to become a global leader in hybrid technologies, providing low-emission solutions for automakers around the world," said Eric Li, Geely Holding Group chairman. The new company will employ 19,000 people at 17 engine plants and five research and development hubs, Renault said. At launch, it is expected to supply to multiple industrial customers including Volvo, Proton, Nissan, Mitsubishi Motors, and PUNCH Torino. The JV aims to have an annual production capacity of up to five million internal combustion, hybrid and plug-in hybrid engines and transmissions, Renault added. Reuters reported in March that the new venture will see 15 billion euros ($16.53 billion) in annual revenue. Saudi Aramco, which signed a letter of intent with Renault and Geely in March, is evaluating a strategic investment in the new company, Renault said. The Saudi oil producer has been involved in advanced discussions to take a stake of up to 20% in the JV, sources said earlier this year. Big oil firms have worked with automakers to develop sustainable fuels and hydrogen engines in recent years. But a deal here would make Aramco the first major oil producer to invest in the car business. The joint venture is expected to be launched in the second half of 2023. Earnings/Financials Green Mitsubishi Nissan Volvo Renault

Nissan to take over for Renault in Formula E

Formula E has generated a lot of news lately, even in the off-season, as major automakers continue to either join the series or express interest in participating. The inclusion of a number of European rivals makes the series particularly interesting. One thing missing from the lineup is a Japanese automaker. That will change, though, as Motorsport reports that Nissan will be taking over its Alliance partner Renault's spot on the starting grid. It's not confirmed when the switch will happen, but with the Renault e.dams Z.E. 17 (seen in testing above) already having been unveiled for next season, it's likely the switch will come in for the 2018/19 season when the series moves away from the practice of swapping cars mid-race. Renault has been a successful part of Formula E from the very beginning, providing (with partner Spark) the cars each team used in the first season, and scoring the series' first Team Championship in 2015, and then again in 2016 and 2017. Nissan, though, has the globally popular Leaf EV, and has been eyeing an entry into Formula E for some time now. Joining the series will not only boost the visibility of Nissan's electrification strategy, it will do the same for its Nismo arm as well (and, as we've already learned, there could be a Leaf Nismo offered in the future). The change would also free up resources for Renault to focus on its F1 efforts. As Motorsport also reports, Formula E CEO Alejandro Agag has said of the Japanese brands Nissan, Honda and Toyota, that "one of those three, maybe two, will end up" in the electric racing series, without elaborating further. Nissan isn't expected to confirm its Formula E entry soon, but it could happen at the Geneva Motor Show next year. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. News Source: MotorsportImage Credit: Formula E Green Motorsports Nissan Renault Green Culture Electric Racing Vehicles Formula E nismo fia formula e championship

Nissan's current Rogue renamed Rogue Select, will live alongside next gen

Despite the fact that an all-new generation of its Rogue crossover goes on sale in November, Nissan will continue to sell the current model alongside its replacement. The existing C-platform-based Rogue, which will be renamed Rogue Select, will start at less than $20,000 when it goes on sale in January 2014. At present, a base 2013 Rogue S prices out slightly higher, from $20,310, but we wouldn't be surprised to see the 2014 Rogue Select come to market with more standard equipment and simplified trim options. It will continue to be built in Kyushu, Japan.
According to Nissan, the unusual move is "to satisfy demand for the popular compact sports utility vehicle, currently second-highest seller in Nissan's lineup, as well as provide customers an additional choice in the segment." It's hard to hard to argue with the numbers: Nissan cites 2012 calendar-year sales of 142,349 Rogue units in the US, with 2013 sales increasing 16 percent through August despite the vehicle's age.
The strategy may also give Nissan the chance to ask for more money for the second-generation model (which is based on a new Common Module Family platform shared with partner Renault) while keeping it clear of residual-value-damaging fleet sales. The new Rogue looks to be both larger and more luxurious, with an available third-row seat, and it should be more economical to produce, as it will be built in Nissan's Smyrna, TN plant.