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France tries to dodge blame for blowing up FCA-Renault merger deal

PARIS — France sought to fend off a hail of criticism on Thursday after it was blamed for scuppering a $35 billion-plus merger between carmakers Fiat-Chrysler and Renault only 10 days after it was officially announced. Shares in Italian-American FCA and France's Renault fell sharply in early trading after FCA pulled out of talks, saying "the political conditions in France do not currently exist for such a combination to proceed successfully." French finance minister Bruno Le Maire said the government, which has a 15% stake in Renault, had engaged constructively, but had not been prepared to back a deal without the endorsement of Renault's current alliance partner Nissan. Nissan had said it would abstain at a Renault board meeting to vote on the merger proposal. However, a source close to FCA played down the significance of Nissan's stance in the discussions, believing French President Emmanuel Macron was looking for a way out of the deal after coming under pressure at home. Context The FCA-Renault talks were conducted against the backdrop of a French public outcry over 1,044 layoffs at a General Electric factory. The U.S. company had promised to safeguard jobs there when it acquired France's Alstom in 2015. The collapse of the deal, which would have created the world's third-biggest carmaker behind Japan's Toyota and Germany's Volkswagen, revives questions about how both FCA and Renault will meet the challenges of costly investments in electric and self-driving cars on their own. The merger had aimed to achieve 5 billion euros ($5.6 billion) in annual synergies, with FCA gaining access to Renault's and Nissan's superior electric drive technology and the French firm getting a share of FCA's lucrative Jeep and Ram brands. FCA has long been looking for a merger partner, and some analysts say its search for a deal is becoming more urgent as it is ill-prepared for tougher new regulations on emissions. It previously held unsuccessful talks with Peugeot maker PSA Group, in which the French state also owns a stake. French budget minister Gerald Darmanin said the door should not be closed on the possibility of a deal with Renault, adding Paris would be happy to re-examine any new proposal from FCA. "Talks could resume at some time in the future," he told FranceInfo radio.

Recharge Wrap-up: Tesla store reboot, Jaguar "EV-Type" an electric F-Pace?

The Connecticut Hydrogen and Electric Automobile Purchase Rebate (CHEAPR) program is creating demand for EVs. $1 million has been set aside for rebates ranging from $750 to $3,000 per car, depending on battery size (in addition to federal incentives). Dealers also get an incentive of $150 to $300 per vehicle to help motivate them to promote EVs. "This is the type of program that can be a win-win-win for the state, auto manufacturers, dealers and consumers," says Chevrolet dealer Leo Karl, who has seen a jump in demand for the Volt under the CHEAPR program. Karl expects the funds to run out as early as this fall. Read more at Automotive News. The Mitsubishi Outlander PHEV is scheduled to go on sale in the US in May 2016. As Mitsubishi makes some changes, including plans to ditch its Normal, IL assembly plant, the company's future in the US is being called into question. The new date for the plug-in hybrid version of the Outlander comes after multiple delays. Mitsubishi also plans to offer a 2016 model of the i-MiEV despite slowing sales. Read more at Automotive News. Tesla is overhauling its stores in advance of the Model X going on sale. The revamp includes informative interactive displays and a heavier emphasis on Tesla merchandise sales. The displays provide information about safety, Autopilot technology, the charging network, electric motors and other information to help familiarize customers with Tesla. The Tesla Design Collection - which includes luggage, apparel and other gear - also helps position Tesla as a luxury lifestyle brand, rather than just a mere automaker. Expect the stores to be continually updated over time. "Tesla is able to pivot in their stores the way they release new software," says Cadent Consulting Group's Ken Harris. "This is important to an emerging brand." Learn more from Bloomberg. Could Jaguar be planning an electric F-Pace called the EV-Type to compete with the Tesla Model X? Autocar is reporting that the upcoming SUV from Jaguar could spawn a whole family of vehicles, including an all-electric version. Jaguar has registered the trademark for the EV-Type name, and that vehicle would likely be built at the Magna Steyr factory in Graz, Austria. That would free up capacity to build the traditionally powered F-Pace in the UK. Read more at Green Car Reports, or at Autocar.

Recharge Wrap-up: vehicle electrification future, Indonesia biodiesel growth

Navigant Research expects electrified vehicles (including hybrids, plug-in hybrids and battery electric vehicles) to reach 6 million sales in 2024. That's up from 2.6 million sales in 2015. About half of those sales will be plug-in vehicles in 2024, up from 19 percent in 2015. To make its predictions, Navigant took into account automaker strategies, concept vehicles, regulations and incentives, electricity and oil prices, and charging infrastructure expectations over the 10-year timetable. Navigant also says that despite the massive changes in the last five years, the next five years will be "even more impactful to the global automotive and energy industries." Read more from Navigant Research, or at Green Car Congress. Indonesia's biodiesel consumption is expected to rise dramatically over the next year. While the nation used 291 to 317 million gallons in 2015, consumption levels for 2016 could surpass 2 billion gallons, depending on blending regulation enforcement. Indonesia raised the minimum biodiesel content in diesel fuel from 10 to 15 percent in 2015 while increasing biofuel subsidies. It will raise the blend minimum to 20 percent for 2016, and plans to increase it to 30 percent in 2020. Read more at Business Recorder. Scotland's national newspaper, The Scotsman, has awarded the title of Plug-In Vehicle of the Year to the Mitsubishi Outlander PHEV. The paper praised the car for its ability to live up to its "ecocredentials," as well as its all-around practicality. During its long-term test, Scotsman staff enjoyed using the 32.5 miles of electric driving range to commute to and from work. The Scotsman's Steven Chisholm called the Mitsubishi Outlander PHEV, "an exciting prospect for anyone looking for an SUV that's easy on the wallet as well as the environment." Read more at Inside EVs. Featured Gallery Mitsubishi Outlander PHEV Concept-S: Paris 2014 View 12 Photos News Source: Navigant Research, Green Car Congress, Business Recorder, Inside EVsImage Credit: Copyright 2015 Drew Phillips / AOL Government/Legal Green Mitsubishi Alternative Fuels Biodiesel Electric recharge wrapup