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'Nothing is blocking' Nissan alliance talks, says Renault chairman

TOKYO — Nothing is blocking discussions between Nissan and Renault over the future of their alliance and the two companies will have "important talks" on Tuesday and Wednesday, the French automaker's chairman said in Tokyo. Speaking at an event on Tuesday, Renault SA chairman Jean-Dominique Senard touted the Franco-Japanese alliance, which has been discussing ways to revamp the relationship. The companies had initially set Tuesday as a deadline to hammer out a deal. However, the discussions have taken longer than originally expected due to Nissan's concerns about how its intellectual property rights can be protected as Renault forges new ties with China's Geely, sources have told Reuters. Renault last week unveiled a sweeping overhaul of its businesses, saying it would set up a joint venture with Geely for gasoline engines and hybrid technology and spin off its electric vehicles unit next year. It wants Nissan to invest in the new electric unit. The companies are also renegotiating their equity ties, which currently see Renault owning a controlling 43% of Nissan and the Japanese company holding only a 15% non-voting stake in Renault. "Nothing is blocking" the discussions, he told reporters after the event, declining to say when the alliance members would reach a deal and adding "you will be informed on time." "As the chairman of this alliance, I've never lived such a warm atmosphere within the alliance and this bodes well for the future."   Green Mitsubishi Nissan Renault

Mitsubishi Outlander, Evo to keep things safe at Pikes Peak

Mitsubishi has already announced that it will be returning as a competitor to the Pikes Peak International Hill Climb with a pair of all-electric MiEV Evolution II racecars. In addition to these entrants, the automaker will also be the presenting sponsor of the race as well as providing the official safety vehicles to the event using specially prepped versions of the 2014 Outlander and Lancer Evolution.
While it isn't clear what exactly will be demanded of the safety vehicles, this isn't going to your run-of-the-mill pace car duty. To get the Outlander and Evo ready for the 156-turn, 12.42-mile course, Mitsubishi teamed up with companies such as BBS, Cobb Tuning, AEM and Muellerized Suspension Systems as well as DC Sports and Kenwood to create these one-off safety cars. These vehicles, and all the racecars, will be at Pikes Peak later this month for the 91st running of America's second-oldest racing event. Scroll down for the official press release.

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.