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PSA shares rise following FCA's breakup with Renault

Shares in Groupe PSA, parent company of automakers Peugeot, Citroen and the DS brand, rose on Thursday as analysts considered the possibility that Fiat Chrysler could turn back to PSA after withdrawing its $35 billion merger offer for Renault. "Both parties have acknowledged the need for scale or [mergers and acquisitions] and may pursue other opportunities. If Nissan was an obstacle (to an FCA-Renault deal) PSA-FCA discussions could resume," wrote brokerage Jefferies. Back in March at the Geneva Motor Show, rumors started swirling that PSA was interested in a potential merger with FCA. Mike Manley, who took over at the helm of Fiat Chrysler following the death of Sergio Marchionne, had indicated a willingness to look into potential partnership options. Of course, that was all before FCA proposed a merger with Renault — with that deal now off the table, attention naturally turns back to PSA, which is also based in France. "We expect both shares to react negatively but see FCA having wider strategic options and Renault shares more downside risk near-term," said Jefferies. According to Reuters, PSA shares were up 1.5% at the time this was published, making it the top-performing stock on France's benchmark CAC-40 Index. Renault saw its shares slump 7%. Shares for FCA fell 3% in early trading on the Milan Stock Exchange. Considering that FCA said in its statement confirming the withdraw of its merger offer with Renault that "political conditions in France do not currently exist for such a combination to proceed successfully," we have to wonder how keen the company is to begin negotiations with another French automaker like PSA. Those thoughts were similarly voiced by Bernstein Research analyst Max Warburton, who said (via Forbes), "Expect PSA to rise on unrealistic hopes it may be FCA's next date." Earnings/Financials Chrysler Fiat Mitsubishi Nissan Citroen Peugeot Renault FCA renault-nissan

Carlos Ghosn 'very comfortable' after questioning by Lebanese prosecutor

BEIRUT/TOKYO — Carlos Ghosn's lawyer said he was "very comfortable" with legal proceedings in Lebanon on Thursday, after the fugitive ex-Nissan boss was questioned over an extradition request from Japan where he faces criminal charges. Ghosn fled Japan to Lebanon, his childhood home, last month as he awaited trial on charges of under-reporting earnings, breach of trust and misappropriation of company funds, all of which he denies. His dramatic escape has raised tension between Tokyo and Beirut at a time when Lebanon is seeking an international bailout to help it tackle a deep financial crisis. Ghosn slammed the Japanese justice system at a two-hour news conference on Wednesday, prompting Japan's justice minister to launch a rare and forceful public response. After questioning in Beirut about Japan's Interpol wanted notice, two judicial sources said the prosecutor had imposed a travel ban, a step Carlos Abou Jaoude, a Beirut-based lawyer for Ghosn, described as procedural to broadcaster Al Jadeed. Lebanon has no extradition agreement with Japan. "He (Ghosn) is very comfortable with the path," Jaoude told another broadcaster, MTV, adding that Ghosn was also comfortable in himself "especially after what he went through."   Related: CES 2020 and Carlos Ghosn | Autoblog Podcast #609 Ghosn: Nissan-Renault strife and his arrest can be traced back to Macron The rise, fall and flight of Carlos Ghosn   One of the judicial sources said authorities had asked Japan for its file on Ghosn, including the charges against him, and would not question him again until the information is received. Ghosn would surrender his French passport on Thursday, he said. Ghosn said later he was more comfortable with the Lebanese judiciary than that of Japan. "I will fully cooperate," he told broadcaster LBCI. Japan's Justice Minister Masako Mori said Ghosn's allegations that he had had "zero chance" of a fair trial in Japan were unfounded. "Defendant Ghosn was looking to justify his unlawful exit from Japan by propagating a false recognition of our justice system," she said at the second of two news conferences, the first of which was held shortly after midnight. "I felt that we needed to respond immediately to broadcast a correct understanding to people around the world." Ghosn told LBCI her comments were "ridiculous." "Today my concern is clearing my name and reputation because all the accusations against me are fabricated," he told Al Jadeed. Trial in Lebanon?

Recharge Wrap-up: Nissan Leaf brake investigation, EV market will grow in China

Electric vehicles are expected to significantly cut into the gasoline-powered vehicle market in China. According to analysts at Frost & Sullivan, gas vehicles will drop to 94.9 percent of the market, while EVs will reach 4.2 percent by 2020. China's EV incentives, as well as a push in technology innovations, are credited for the rising popularity of plug-in cars. Despite awareness issues and supply shortages holding EVs back, "the Chinese powertrain market will remain buoyant, with increased customer purchasing power and self-esteem needs triggering vehicle sales," according to Frost & Sullivan researcher Ming Lih Chan. The big winners in this equation will be the suppliers of EV components in China. Read more in the press release below. The Canadian government is investigating possible brake failure issues with the Nissan Leaf. The Transport Canada investigation will look at 2013 to 2015 models, which could be experiencing brake malfunctions in severe cold weather. In the US, drivers have reported problems such as aggressive response to driver input and jerky braking, with some problems going away when the weather got warmer. NHTSA hasn't begun an investigation of its own, so far. Read more at Hybrid Cars. Sunspeed Enterprises has started an Indiegogo campaign to fund the installation of EV chargers along the Pacific Coast Sun Trail. As part of creating a 700-mile network of EV Infrastructure along the Pacific Coast Highway, this particular campaign is helping pay for a charging hub powered by renewable energy at the Madonna Inn in San Luis Obispo, California. Donors will receive rewards such as shirts and mugs, as well as charging credits and discounts. At the highest level, a $10,000 donation will net the donor free charging for life at any Sunspeed charging hub. Learn more at Indiegogo. Featured Gallery 2013 Nissan Leaf View 55 Photos News Source: Frost & Sullivan, Hybrid Cars, Transport Canada, Indiegogo Green Recalls Nissan Safety Electric recharge wrapup