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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.

Nissan rowed the Note ashore [w/video]

Normally we wouldn't suggest trying to float your car on water, but Nissan has made some modifications to turn its new Versa Note hatchback into a makeshift rowing shell.
Nissan replaced the car's rear seats with a sliding rear rowing seat, modified the doors to open wider at 90 degrees and fitted a pair of oars. Most importantly, they put the whole thing on a floating platform to keep it from sinking into Eton Dorney Lake, the site of the 2012 Olympic rowing competitions in England (where the car is simply known as the Nissan Note).
Then they invited medal-winning competitive rowers Helen Glover, Sophie Hosking and Polly Swann to come along and row the thing, making use of the around-view monitor system to see where they were going. All in all it may not be quite as cool as the boats which Fiat made out of the 500 or Mini made out of its convertible, but it's still enough to float our boat. Check it out in the video clip and press release below and the image gallery above.