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Renault, Nissan officially reboot their auto alliance for post-Ghosn era

Nissan CEO Makoto Uchida looks on as Renault CEO Luca De Meo and Mitsubishi CEO Takao Kato shake hands during a news conference to unveil new agreement between Nissan and Renault on Monday in London.   LONDON — Automakers Renault and Nissan on Monday formalized their reboot of a relationship that had grown rocky, culminating in the spectacular fall of top executive Carlos Ghosn, who had led successful turnarounds at both companies before his arrest and daring escape. The boards of both companies approved equalizing the stake each automaker holds in the other to 15%, bringing a better balance in the French-Japanese alliance, which also includes smaller Japanese carmaker Mitsubishi Motors Corp. The uneven shareholdings had been viewed at times as a source of conflict. Until now, Renault Group of France owned 43.4% of Nissan Motor Co., while the Japanese automaker owned 15% of Renault. “We have been waiting a long time for this moment,” Renault board Chairman Jean Dominique Senard said at a news conference in London, calling it a “new era." Nissan intends to invest up to 15% in Ampere, RenaultÂ’s electric vehicle and software entity in Europe that Mitsubishi also will consider investing in. The automakers said they will collaborate in markets worldwide, including Latin America, Europe and India. The moves come at a time when the extremely competitive auto industry is undergoing a major shift toward electric vehicles and other environmentally friendly models. The long speculated changes to the carmaker alliance were announced a week ago. Shares equivalent to a 28.4% stake will be transferred to a French trust, according to the companies. Renault, whose top shareholder is the French government, and Nissan agreed on an orderly sale of that stake, although there will be no deadline. Nissan Chief Executive Makoto Uchida vowed to take the alliance to “the next level of transformation” to adapt to a new era. “This is not a choice but a need,” he said. In theory, partnerships are a good way for automakers to cut costs by sharing parts, production and technology, especially when the industry is going through such dramatic change with EVs. That also means that, once formed, ending an alliance can be difficult because the companiesÂ’ development, manufacturing and products get so closely tied together. Still, partnerships can stumble because of the different corporate cultures of the automakers, especially when it involves a meeting of the West and East.

Nissan recalls over 120,000 Altimas due to... spare tire inflation?!

A pressure regulator that over- or underinflated spare tires for five days earlier this year has led to a recall of 123,308 units of the 2013 Nissan Altima. Sedans that were manufactured from March 21-26 are those possibly affected by the temporary tire snafu, the recall for which will begin on May 3.
Those notified of the issue can take their sedans to their local Nissan dealer, who will check the tire pressure and correct it if necessary, but we imagine owners can probably just whip out a tire gauge to check and adjust the inflation for themselves. Should you need it, there's an official notice from the National Highway Traffic Safety Administration below with a few more details.

Carlos Ghosn freed from jail after four months

TOKYO — Wearing a mask, cap and what looked like a construction worker's outfit, the former chairman of Nissan Motor Co., Carlos Ghosn, left a Tokyo detention center Wednesday after posting 1 billion yen ($8.9 million) bail. Although his face was obscured as he left the facility, Ghosn's identity was apparent as he smiled after arriving at a building in downtown Tokyo, having removed his jacket, mask and hat. There was a scramble by media to follow Ghosn after he boarded a small Suzuki van, topped with a ladder, and traveled from the Tokyo Detention Center toward downtown. Motorcycles trailed the van in formation as it passed through city streets to one of the defense lawyer's offices. Ghosn later left in another car, which was mobbed by media. Ghosn, the former head of the Renault-Nissan-Mitsubishi Motors alliance was arrested on Nov. 19. He is charged with falsifying financial reports and with breach of trust. The Tokyo District Court confirmed the 1 billion yen ($8.9 million) bail was posted earlier in the day, after a judge rejected an appeal from prosecutors requesting his continued detention. That cleared the way for Ghosn to leave the facility after spending nearly four months since his arrest. Before his release, Ghosn, who turns 65 on Saturday, issued a statement reasserting his innocence. "I am innocent and totally committed to vigorously defending myself in a fair trial against these meritless and unsubstantiated accusations," he said. A date for his trial has not yet been set. Suspects in Japan often are detained for months, especially those who insist on their innocence, like Ghosn. Some legal experts, including Junichiro Hironaka, one of his lawyers, have criticized the system as "hostage justice," saying the long detentions tend to encourage false confessions. Ghosn's lawyer in France, Jean-Yves Le Borgne, said the lawyers in Japan will be leading the defense but he was in touch with them. "He is catching his breath and settling in," Le Borgne said of Ghosn. French Finance Minister Bruno Le Maire said a presumption of innocence for Ghosn was crucial, while noting the importance to France of the alliance between Nissan and French automaker Renault SA. "It is a good thing that Carlos Ghosn can defend himself freely and serenely, and his release will permit Carlos Ghosn to defend himself freely and serenely," he said. The French government owns about 15 percent of Renault SA, making it an influential voice in the future of the alliance.