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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.

Nissan teases new pickup on Twitter [w/video]

Nissan is celebrating 80 years of building pickup trucks by teasing its latest one on Twitter ahead of a June 11 reveal. Official information about the new vehicle is essentially nonexistent at the moment, but there are some clues to extrapolate from.
There's a special member of the #Nissan family on the way. Due date: June 11th. pic.twitter.com/OkQ0GkXypV

- Nissan (@Nissan) June 2, 2014

Toyota, Honda, Mazda and Nissan recall 3.4 million vehicles for faulty airbags

Most vehicle recalls that take place these days are a result of some problem that happens during the manufacturing process by the automaker, but as we see here, parts suppliers can also factor in to problematic safety issues. Automotive News is reporting that a total of 3.4 million vehicles produced by Japanese automakers between 2000 and 2004 are being recalled globally due to faulty airbags produced by an outside supplier, Takata Corp.
According to the report, vehicles from Toyota, Honda, Nissan and Mazda are being recalled because of passenger front airbags that do not inflate properly. Globally, Toyota is said to be recalling around 1.73 million cars including 510,000 in the US composed of Toyota Corolla, Matrix, Sequoia and Tundra as well as the Lexus SC430 for the 2001 through 2003 model years; this is the second time this year the 2003 Corolla and Matrix have been recalled for an airbag problem. Honda is recalling 1.14 million models, Nissan another 480,000 and Mazda 45,463. The article says that Takata supplied faulty airbags to non-Japanese automakers, but it did not specify which ones.
Honda and Toyota have released information on their own websites about the recall, while Nissan and Mazda have not yet commented. Read official press releases from Honda and Toyota, below, and look for updates as we have word from the others.