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Nissan is optimistic about FCA partnership, but wants the right terms

BEIJING – Nissan is optimistic about partnering with a combined Renault and Fiat Chrysler (FCA), as long as it can protect the ownership of technology developed over two decades of working with Renault, a senior executive told Reuters. The executive, who declined to be identified because he is not authorized to speak to the media, said he was cautiously optimistic about the possibility of generating "synergies" by sharing Nissan's autonomous drive know-how, electrification and greenhouse-gas-scrubbing technologies for powertrains. But he said the possible $35 billion merger of Renault and FCA would not give FCA the automatic right to use those technologies, which it needs to meet stringent emissions regulations and better compete in a industry being transformed by electric vehicles. He also floated the possibility that Nissan could look at boosting its stake in Renault, or a merged Renault-FCA, to gain more say in shaping the future of the alliance. "We would go ahead with partnering or cooperating with FCA only if we can guarantee tangible benefits from sharing technologies with FCA and only if we can work out conditions that are satisfactory to us," the Yokohama-based executive said. "If Renault wants to pursue this deal, we feel we need to look seriously at supporting them," he said. The executive's comments highlight how Nissan could look to leverage its advanced technology to gain greater bargaining power with a merged Renault-FCA. Renault is Nissan's top shareholder with a 43.4% shareholding, while Nissan holds a 15% non-voting stake in the French automaker. That unequal partnership has long rankled Nissan, which is the bigger company by far. A Nissan spokesman referred Reuters to a statement issued on Monday, where Nissan Chief Executive Hiroto Saikawa said: "I believe that the potential addition of FCA as a new member of the alliance could expand the playing field for collaboration and create new opportunities for further synergies." "That said, the proposal currently being discussed is a full merger which — if realized — would significantly alter the structure of our partner Renault. This would require a fundamental review of the existing relationship between Nissan and Renault," Saikawa said, adding that Nissan would analyze and consider its "existing contractual relationships". BOOSTING STAKE?

Ghosn hid part of Nissan salary, fearing he'd be forced out of Renault, exec testifies

TOKYO — Carlos Ghosn hid part of his compensation at Nissan because he feared the French government would force him out of Renault if it discovered how much he earned, an executive at the Japanese carmaker told a Tokyo court on Thursday. Hari Nada, a former Nissan vice president in charge of legal affairs, has been described as organizer of a putsch against Ghosn and is a key whistleblower in the case brought by Japanese prosecutors against the former Nissan and Renault boss, who was arrested in 2018. Nada was testifying at the trial of former Nissan executive Greg Kelly, who is charged with helping Ghosn hide 9.3 billion yen ($89 million) in compensation over eight years through deferred payments after Japan introduced new rules requiring executives to disclose payments above 1 billion yen. Kelly has pleaded not guilty. He has been on bail in Japan since his release from jail in 2018 and is facing trial without Ghosn because his co-accused fled to Lebanon in December 2019. Ghosn, who was one of the world's most prominent auto bosses as head of the Renault-Nissan-Mitsubishi alliance, has denied wrongdoing. He says he is the victim of a boardroom coup by former Nissan colleagues worried he would push through a merger between Nissan and Renault, its largest shareholder. Nada told the court that Ghosn had concealed his true compensation because he feared the repercussions in France. He said Kelly had given him this information. "He didn't want to be fired. If he paid himself what he wanted and that was disclosed, the French state would have felt obliged to fire him," said Nada, who agreed to cooperate with Japanese prosecutors in return for immunity from prosecution. France's economy ministry declined to comment. Nada was demoted following Ghosn's arrest. Ghosn, who is also charged with enriching himself through $5 million in payments to a Middle East car dealership, and for a breach of trust for temporarily transferring personal financial losses to his employer's books, also denies any wrongdoing. A former Nissan chief operating officer offered another perspective on Tuesday, outlining the pains company officials took to hide GhosnÂ’s pay, because they worried about his quitting for a rival. “Carlos Ghosn is a world-class business leader and CEO,” said Toshiyuki Shiga, testifying at the trial of his former colleague Greg Kelly, charged with under-reporting GhosnÂ’s compensation.

Nissan e-NV200 electric van will start FedEx testing in DC

The electric van test program that Nissan and FedEx announced today at the Washington Auto Show isn't really all that new. After all, FedEx is already testing the all-electric e-NV200 in Singapore, Japan and Germany. The news today is that FedEx will be one of the first companies to test the EV in the US, and Nissan brought a prototype to the show to gin up interest. 200 CHAdeMO stations were added in December, a monthly record. The e-NV200 uses a powertrain similar to what's in the Nissan Leaf and weighs about the same as that passenger car, but Nissan isn't talking about US performance figures quite yet. Nissan isn't even saying if the vehicle will even come to the US, but this test program sure hints that something like that is in the works. For now, all that's official is that Nissan will bring two - yes, just two - e-NV200 units to the US, letting FedEx test one in the Washington, DC area for between six to eight weeks before cycling the EVs to other companies in the US over the next year. The idea, as you may have guessed, it to gather data on how companies might use this van and let Nissan figure out if it wants to sell the e-NE200 here. The van will start being built in Barcelona, Spain this spring and is currently intended for Europe and Japan. FedEx is no stranger to greener vehicles, and has 167 EVs in its US fleet right now. Read more in the press release below. The e-NV200 can use CHAdeMO fast charging, and Nissan said today that it has helped install 570 of those DC fast chargers in the US since announcing expansion plans last year. At the time, the target was 500 chargers in 18 months, so things are progressing faster than publicly anticipated. In fact, 200 CHAdeMO stations were added in December, a monthly record. Jan. 22, 2014 Nissan and FedEx Express Put All-Electric e-NV200 to Work in Collaborative U.S. Test WASHINGTON, D.C. - FedEx Express, a subsidiary of FedEx Corp., and Nissan announced today at the Washington Auto Show that the two companies will begin testing the Nissan e-NV200, a 100 percent electric compact cargo vehicle, under real world conditions in Washington, D.C. This test marks the first time the vehicle will be running in North America. FedEx Express and Nissan have conducted similar e-NV200 tests with fleets in Japan, Singapore, the United Kingdom and Brazil. FedEx and Nissan are both committed to reducing the environmental impact of their operations worldwide.