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Nissan reportedly rejecting Renault proposal for closer ties

TOKYO — Nissan Motor Co Ltd will reject a management integration proposal from French partner Renault SA and will call for an equal capital relationship, the Nikkei newspaper said on Monday, citing sources. Nissan's management feels the Japanese company has not been treated as an equal of Renault under existing capital ties, and a merger would make this inequality permanent, the Nikkei reported. The outlook for the alliance — one of the world's top automaking partnerships — has been in focus since the arrest in November of its main architect, Carlos Ghosn, on charges of financial misconduct. The former Nissan and Renault chairman has denied the charges against him and has said he was the victim of a boardroom coup by Nissan executives opposed to closer ties. To which, Bloomberg reported that it has seen emails in which Nissan executives were working with Japanese government officials to defend the company's independence, as Ghosn was pushing for a full merger. The emails indicate growing concern at high levels of the Japanese government, in the months before Ghosn's arrest, that his merger efforts would boost Renault and its largest shareholder, the French government, and harm Nissan, in a relationship the Japanese already saw as lopsided. The emails indicated a desire to keep the existing structure of the alliance with a "re-balancing of the shareholding" to reduce Renault's 43 percent stake in Nissan, and stated that Nissan's independence "should be respected." Nissan declined to comment directly on the emails, while reiterating that misconduct by Ghosn and his former aide, Greg Kelly, is "the sole cause of the chain of events." Renault saved Nissan from the brink of bankruptcy two decades ago and under their current capital alliance, the French company holds greater control over its much larger partner. Nissan Chief Executive Hiroto Saikawa declined to say whether the company had received a merger proposal from Renault. "Now is not the time to think of such things," he told a group of reporters outside of his house in Tokyo. "At the moment we are focused on improving Nissan's earnings performance. Please give us time to do that." Renault declined to comment on the report. Renault has argued in its proposal that an integration would maximize synergies within the French-Japanese alliance, according to the Nikkei. The Financial Times reported last month of Renault's intention to restart merger talks with Nissan within 12 months.

Junkyard Gem: 1978 Plymouth Sapporo

Chrysler began selling rebadged Mitsubishis in the United States in the 1971 model year, when the first Mitsubishi Colt Galants appeared as Dodge Colts here. This relationship prospered as the decade progressed, and the Galant Lambda coupe acquired Plymouth Sapporo and Dodge Challenger badges and went on sale in North America for the 1978 model year. We've seen a MitsuChallenger in this series, and now it's time for an example of its Plymouth sibling, found in a Colorado yard last month. Thanks to the increasingly good reputation of reliable and fuel-efficient Japanese machinery in the United States during the 1970s, the "manufactured in Japan" plaque became a selling point for these cars. The Sapporo had a 1.6-liter straight-four as its base engine, but this car has the optional 2.6-liter Astron. Its 105-horsepower output was fairly serious stuff for a small car in 1978. Later on, turbocharged Astrons powered the legendary Mitsubishi Starions, while naturally-aspirated versions went into Chrysler's K-Cars. The interior sports tri-tone bucket seats, racy-looking steering wheel, and full gauges. In the late 1970s through early 1980s, you needed opera lights on your car to be truly classy. The Chrysler Cordoba had them, the Lincoln Continental Town Car had them, the Oldsmobile Toronado had them, and this Sapporo has them. AM/FM stereo radios (or any radio, for that matter) and power remote mirrors were expensive options on most cars in 1978. The 1972 Winter Olympics took place in Sapporo, Japan, so the name had some recognition. Mitsubishi didn't start selling cars under its own badging here until the 1983 model year, and the Galant (sedan only) didn't arrive on these shores until 1985. The interior in this one got pretty well roasted from long-term outdoor parking (apparently in Nebraska, if we are to judge by the 2002 license plate I found inside the car). These cars aren't worth very much even in good condition, and so I still find numerous Malaise Era sporty Chryslerbishis during my junkyard travels. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. What a deal! This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. In the Sapporo's homeland, the TV ads for the Galant Lambda were less about cheapness and more about the glamorous Lambda lifestyle. This content is hosted by a third party. To view it, please update your privacy preferences.

Mitsubishi struggling to sell doomed plant due to union workers

Mitsubishi is about to end vehicle production in the US, but the company is having serious problems finding a buyer for its Normal, IL, factory that currently assembles the Outlander Sport. A major sticking point, according to a report by The Wall Street Journal, is the plant's workforce of over 900 United Auto Workers members. The automaker has been trying to find another company to take over the site for months and has set November as the point to stop manufacturing there. The Normal, IL, factory is unique because it's the only plant in the country that's run by a Japanese automaker with a UAW-represented workforce, after starting as a joint venture with Chrysler. That makes Ford, General Motors, and FCA the preferred buyers because they could conceivably take over the union contract. However, the Blue Oval and the General likely aren't interested. According to plant officials speaking to The Wall Street Journal, FCA and some unnamed car companies are potential buyers, but there's absolutely nothing final, yet. Proponents argue that buying the location is cheaper than building a new one. Making matters harder is that the UAW and Mitsubishi are currently negotiating a new union contract, and the factory's next owner might have to take over the deal, according to the WSJ. The workers were ready to vote whether to strike recently, but that was averted when an announcement on the local's webpage said a tentative agreement was expected Sunday. Of course, the Big Three have been experiencing their own, similar issues with crafting deals, too. Related Video: