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Renault delays decision on merger with Fiat Chrysler

PARIS — Renault has delayed a decision on whether to merge with Fiat Chrysler Automobiles, a deal that could reshape the global auto industry as carmakers race to make electric and autonomous vehicles for the masses. The deal still looks likely, but faced new criticism Tuesday from Renault's leading union and questions from its Japanese alliance partner Nissan. The French government is also putting conditions on the deal, including job guarantees and an operational headquarters based in France. The French carmaker's board will meet again at the end of the day Wednesday to "continue to study with interest" last week's merger proposal from FCA, Renault said in a statement. A Renault board meeting Tuesday to study the deal was inconclusive. The company didn't explain why, but a French government official said board members don't want to rush into a deal and are seeking agreement on all parts of the potential merger. The official, who spoke on condition of anonymity in line with government policy, told The Associated Press the conditions outlined by France's finance minister still "need to be met." France and Italy are both painting themselves as winners in the deal, which could save both companies 5 billion euros ($5.6 billion) a year. But workers worry a merger could lead to job losses, and analysts warn it could bog down in the challenges of managing such a hulking company across multiple countries. And a possible loser is Japan's Nissan, whose once-mighty alliance with Renault and Mitsubishi is on the rocks since star CEO Carlos Ghosn's arrest in November. Nissan CEO Hiroto Saikawa cast doubt Tuesday on whether his company will be involved in a Renault-Fiat Chrysler merger — and suggested adding Fiat Chrysler to the looser Renault-Nissan-Mitsubishi alliance instead. Saikawa said in a statement that the Renault-Fiat Chrysler deal would "significantly alter" the structure of Nissan's longtime partnership with Renault, and Nissan would analyze its contractual relationships to protect the company's interests. If Renault's board says "yes" to Fiat Chrysler, that would open the way for a non-binding memorandum of understanding to start exclusive merger negotiations. The ensuing process — including consultations with unions, the French government, antitrust authorities and other regulators — would take about a year. A merger would create the world's third-biggest automaker, worth almost $40 billion and producing some 8.7 million vehicles a year.

Recharge Wrap-up: Elon Musk talks autonomous cars, Renault to run ZOE in ZENN Monte-Carlo Rally

Elon Musk discussed the autonomous driving capabilities of the Tesla Model S with NVIDIA CEO Jen-Hsun Huang. He said the car is already equipped with the hardware needed for highway driving. "Even with the current sensor suite, we could make the car go fully autonomous, but not a level of reliability that would be safe in, say, a complex urban environment at 30 miles an hour," says Musk. That would require "a bigger sensor suite, and you need more computing power." Huang and Musk also discussed car hacking and artificial intelligence during the interview at the 2015 GPU Technology Conference. See the video above, and read more at Teslarati. Renault will send four of its ZOE electric cars to the ZENN (Zero Emission, No Noise) Monte-Carlo Rally. The rally, which travels through the principality beginning and ending at the Port of Monaco, is open to electric cars with ranges of less than 250 kilometers (about 155 miles). Visitors can also explore an "electric village," which includes vehicle test drives and information about the future of automobiles. The race takes place from March 20 through 22. Read more in the press release from Renault below. A Seattle-area Nissan dealership has opened a "charging depot" with six fast chargers. Bellevue Nissan now claims to have a larger group of fast chargers than any other dealership in the country. The chargers are part of the NRG eVgo network, and will be available to drivers around the clock every day of the week. They'll also be part of Nissan's "No Charge To Charge" program for Leaf customers. Washington Governor Jay Inslee was on hand at the dealership for the opening, where he called such fast charging stations, "the backbone of our future transportation infrastructure." Read more at Hybrid Cars. A coalition of environmental groups and renewable energy advocates want New York to require all heating oil sold in the state to include at least two percent biodiesel. The proposal passed the Assembly's Committee on Environmental Conservation Tuesday. Its sponsor is Assemblyman Steven Englebright, a Long Island Democrat who says a biodiesel standard would reduce carbon emissions while boosting the state's agricultural industry. Supporters of a biodiesel standard include the New York League of Conservation Voters, the New York Public Interest Research Group and the state's Corn and Soybean Growers Association. Conventional oil companies are opposed.

Nissan didn't have much say in merger talks, but it had what FCA wanted

TOKYO — Nissan wasn't consulted on the proposed merger between its alliance partner Renault and Fiat Chrysler, but the Japanese automaker's reluctance to go along may have helped bring about the surprise collapse of the talks. While Nissan Motor Co. had a weaker bargaining position from the start, with its financial performance crumbling after the arrest last year of its star executive Carlos Ghosn, it still had as its crown jewel the technology of electric vehicles and hybrids that Fiat Chrysler wanted. The board of Renault, meeting Thursday, didn't get as far as voting on the proposal, announced last week, which would have created the world's third biggest automaker, trailing only Volkswagen AG of Germany and Japan's Toyota Motor Corp. When the French government, Renault's top shareholder with a 15% stake, asked for more time to convince Nissan, Fiat Chrysler Chairman John Elkann abruptly withdrew the offer. Although analysts say reviving the talks isn't out of the question, they say trust among the players appears to have been broken. "The other companies made the mistake of underestimating Nissan's determination to say, 'No,' " said Katsuya Takeuchi, senior analyst at Mitsubishi UFJ Morgan Stanley Securities in Tokyo. The Note, an electric car with a small gas engine to charge its battery, was Japan's No. 1 selling car, the first time in 50 years that a Nissan beat Toyota and Honda. Renault and Fiat Chrysler highlighted possible synergies that come from sharing parts and research costs as the benefits of the merger. But what Fiat Chrysler lacks and really wanted was what's called in the industry "electrification technology," Takeuchi said. With emissions regulations getting stricter around the world, having such technology is crucial. Yokohama-based Nissan makes the world's best-selling electric car Leaf. Its Note, an electric car equipped with a small gas engine to charge its battery, was Japan's No. 1 selling car for the fiscal year through March, the first time in 50 years that a Nissan model beat Toyota and Honda Motor Co. for that title. Nissan is also a leader in autonomous-driving technology, another area all the automakers are trying to innovate. "Although Nissan had no say, its cautionary stance on the merger ended up being very meaningful," Takeuchi said.