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FCA compromises with France, moving Renault merger bid forward

FRANKFURT/PARIS – Renault directors were preparing to review Fiat Chrysler's $35 billion merger offer on Tuesday, after the Italian-American carmaker resolved differences with the French government overnight, three sources said. The compromise on French government influence over a combined FCA-Renault may clear the way for Renault's board to approve a framework agreement beginning the long process of a full merger, unless new issues surface at the meeting. France, Renault's biggest shareholder with a 15% stake, had been pressing for its own guaranteed seat on the new board and an effective veto on CEO appointments. But after late-night talks with FCA Chairman John Elkann, the French government has accepted a compromise that would see it occupy one of four board seats allocated to Renault, balanced by four FCA appointees, the sources said. Renault would also cede one of its two seats on a four-member CEO nominations committee to the French state, they said. Renault, FCA and the French government all declined to comment on the discussions. The same evening that the compromise was was negotiated, activist hedge fund CIAM wrote to the board of Renault to say it "strongly opposed" a planned $35 billion merger with Fiat Chrysler. Calling the deal "opportunistic," the fund said the current deal terms strongly favored Fiat Chrysler and offered no control premium. (Reporting by Arno Schuetze and Laurence Frost; additional reporting by Giulio Piovaccari in Milan and Simon Jessop; editing by Jason Neely and Rachel Armstrong) Government/Legal Chrysler Fiat Mitsubishi Nissan Renault merger

nuTonomy beats Uber to launch first self-driving taxi

In the cutthroat world of technology, if you're not first, you're last. With this in mind, it shouldn't come as a surprise to see tech companies and automakers clawing to be first in line to release self-driving cars. Uber recently partnered with Volvo in a $300-million project that should result in a self-driving fleet as early as next month. But amazingly, a 3-year-old company called nuTonomy has beat Uber to the punch by launching the world's first self-driving taxi in Singapore. Cambridge, MA,-based nuTonomy has been privately testing self-driving vehicles in Singapore since April and is now allowing select residents in the city's one-north business district to be driven around in its self-driving taxis for free. Customers will be able to summon one of nuTonomy's self-driving taxis through the company's app and will be picked up in a Renault Zoe or Mitsubishi i-MiEV electric car modified for autonomous driving. While the taxi will drive itself, an engineer from nuTonomy will ride in the vehicle to ensure that the car is operating properly and will take over if needed. There's no word on how many self-driving taxis nuTonomy put on the road, but the trials take the company one step closer to launching its fully autonomous fleet by 2018. The Wall Street Journal's Jake Watts managed to get a ride in one of nuTonomy's self-driving taxis and, while it went well, he claims human cabdrivers may not go extinct any time soon. According to Watts, the self-driving Mitsubishi lacked Tesla's polish and was overly cautious. The car did a fine job of avoiding jaywalkers, parked cars, and pedestrians on the short drive, but hesitated often, which could gives riders motion sickness, Watts said. nuTonomy CEO Karl Iagnemma will be speaking at Autoblog's UPSHIFT 2016 conference on transportation technology on October 6 in Detroit. Related Video: News Source: The Wall Street Journal, nuTonomyImage Credit: nuTonomy Green Mitsubishi Renault Technology Emerging Technologies Autonomous Vehicles Electric Uber driverless singapore nutonomy

Toyo Tires will bring another wild catalog of rides to SEMA

Toyo Tires carts all kinds of toys to SEMA every year, the rubber company planning another 30 or so automotive exhibits this year in two locations. One of them, the Baja 911, comes with a pedigree not usually associated with the bewildering wares hawked at the Las Vegas show. TJ Russell was once lead fabricator for Singer Vehicle Design, now he's the head of Russell Built Fabrication in Sun Valley, CA. Sticking with the marque he knows well, Russell started with a 1991 Porsche Carrera 4 cabriolet, fitted the interior with a full roll cage, then built a hardtop around it to design a desert runner channeling the old Rothmans safari 911s. Underneath that bodywork lives a box-plate trailing arm suspension with 12 inches of travel, working 15-inch Fifteen52 FIA-approved Gravel wheels and 30-inch Toyo Open Country A/T II tires. Power comes from a purpose-built 3.8-liter air-cooled flat-six with about 350 horsepower — 100 hp more than stock — in a car that weighs 400 pounds less than the original. Oh, and as documented on Instagram with the tagline "All race outside, all business inside," the interior's full of quilted, cross-stitched leather, and Toyo says Russell's going to do a low-volume run of the Baja 911 starting early next year. ruffian-ford-mustang-sema-01 View 10 Photos Chris Ashton built a 1970 Ford Mustang Fastback called the Ruffian Mustang, inspired by the Trans Am Racing Series. The exterior changes are more subtle than one might think – the chin spoiler, hood scoop, and side mirrors are barely exaggerated versions of those on the original car, the intake vents astride the front lights and the steel bumpers teleported from 1970. Changes outside include de-chromed and flush-mounted glass, vented hood, front fenders that are dropped an inch, rear fender vents, dual side-exit pipes, and gargantuan fender flares over staggered Signature One wheels and Toyo Proxes 888 tires. The interior's fitted with a roll cage and race car workings. In spite of the Boss 427 badging, the engine's a 625-hp Chevrolet LS3 V8. button-built-ferrari-355-sema-01 View 13 Photos The Button Built Ferrari BB355TT picks up from last year's stanced BB328GTS widebody that gave many Internet denizens heart attacks. Laid up on a 1999 355 Berlinetta, the BB version appends a widebody kit designed Mitchell Button, rendered by Khyzyl Saleem and drenched in Azzuro la Plata, a color from Ferrari's Scagliette palette first used on a 1967 275GTB Le Mans racer.