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Renault and Nissan in talks that could reshape autos alliance

PARIS/TOKYO – Renault and Nissan said on Monday they were in talks about the future of their alliance, including the Japanese automaker considering investing in a new electric vehicle venture by its French partner. The talks, which could prompt the biggest reset in the alliance since the 2018 arrest of longtime executive Carlos Ghosn, have included consideration of Renault selling some of its Nissan stake, two people with knowledge of them said. Negotiations are expected to continue ahead of a Renault investor presentation in early November, when the French carmaker is expected to give an update on its new EV unit, which is code-named "Ampere." Renault owns about 43% of Nissan, which in turn has a 15% stake in its long-term partner. The French state also has a 15% holding in Renault. Shares in Renault rose by as much as 6% in early trading, making the stock the best performer on France's benchmark CAC-40 equity index. They were up 3.54% by 1105 GMT. Renault and Nissan said in a joint statement that they were "engaged in trustful discussions around several initiatives" including a potential Nissan investment in the EV venture and what they called "structural improvements" in their alliance. Renault CEO Luca De Meo, who was in Japan over the weekend, and Nissan CEO Makoto Uchida have been central to talks about reshaping its terms, a person familiar with the talks said. A group of Nissan executives, including Chief Operating Officer Ashwani Gupta, have also been involved in developing discussions in recent months, the person said. Renault is looking to win Nissan as an investor in its new EV venture, which it is setting up alongside a separate combustion engine unit, essentially splitting out the higher-growth and investment-hungry portion of its auto business. In exchange for investing in the EV venture, Nissan is looking to Renault to reduce its stake in the Japanese automaker, a person familiar with the talks said. The French dominance of the alliance has long been a point of contention for Nissan, which wants Renault to cut its stake to 15% to draw level with its own holding in Renault, the source familiar with the matter told Reuters. For Nissan, the talks could represent a chance to reset a structure that many executives at the Japanese firm have seen as unbalanced, given the way vehicle development work between the two carmakers has progressed in recent years.

Renault, Nissan officially reboot their auto alliance for post-Ghosn era

Nissan CEO Makoto Uchida looks on as Renault CEO Luca De Meo and Mitsubishi CEO Takao Kato shake hands during a news conference to unveil new agreement between Nissan and Renault on Monday in London.   LONDON — Automakers Renault and Nissan on Monday formalized their reboot of a relationship that had grown rocky, culminating in the spectacular fall of top executive Carlos Ghosn, who had led successful turnarounds at both companies before his arrest and daring escape. The boards of both companies approved equalizing the stake each automaker holds in the other to 15%, bringing a better balance in the French-Japanese alliance, which also includes smaller Japanese carmaker Mitsubishi Motors Corp. The uneven shareholdings had been viewed at times as a source of conflict. Until now, Renault Group of France owned 43.4% of Nissan Motor Co., while the Japanese automaker owned 15% of Renault. “We have been waiting a long time for this moment,” Renault board Chairman Jean Dominique Senard said at a news conference in London, calling it a “new era." Nissan intends to invest up to 15% in Ampere, RenaultÂ’s electric vehicle and software entity in Europe that Mitsubishi also will consider investing in. The automakers said they will collaborate in markets worldwide, including Latin America, Europe and India. The moves come at a time when the extremely competitive auto industry is undergoing a major shift toward electric vehicles and other environmentally friendly models. The long speculated changes to the carmaker alliance were announced a week ago. Shares equivalent to a 28.4% stake will be transferred to a French trust, according to the companies. Renault, whose top shareholder is the French government, and Nissan agreed on an orderly sale of that stake, although there will be no deadline. Nissan Chief Executive Makoto Uchida vowed to take the alliance to “the next level of transformation” to adapt to a new era. “This is not a choice but a need,” he said. In theory, partnerships are a good way for automakers to cut costs by sharing parts, production and technology, especially when the industry is going through such dramatic change with EVs. That also means that, once formed, ending an alliance can be difficult because the companiesÂ’ development, manufacturing and products get so closely tied together. Still, partnerships can stumble because of the different corporate cultures of the automakers, especially when it involves a meeting of the West and East.

2014 Nissan Pathfinder Hybrid

If you've been keeping up with our long-term 2013 Nissan Pathfinder coverage, you already know that, generally speaking, we dig it. After racking up 21,000 miles (and climbing!) on our dear Sweet Brown, we've become very, very familiar with the Pathfinder package as a whole, and many of us actually prefer it over competitors like the Ford Explorer and Chevrolet Traverse.
For 2014, Nissan has added a new hybrid option for its Pathfinder, using an all-new powertrain that will also be shared with the CUV's Infiniti-badged QX60 sibling. As far as fuel economy is concerned, our long-term Pathfinder has had no problem hitting its EPA-estimated numbers of 19 miles per gallon city and 25 mpg highway, but this new hybrid model is said to be good for an increase in overall economy - 25/28 mpg (city/highway) when equipped with front-wheel drive and 25/27 mpg with optional four-wheel drive.
We recently took the 2014 Pathfinder Hybrid for a quick spin around the city streets of Nashville, TN. And while our time with the non-hybrid Pathfinder has been pretty enjoyable overall, at first blush, we're having a tougher time warming up to this electrified variant.