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Carlos Ghosn's arrest casts doubt on future of Renault-Nissan alliance

For years, France's Renault and Japan's Nissan struggled to make money in the global auto business. Then came Carlos Ghosn, a Renault executive who helped to orchestrate an unprecedented transcontinental alliance, combining parts of both companies to share engineering and technology costs. Now Ghosn's arrest in Japan for alleged financial improprieties at Nissan could put the nearly 20-year-old alliance in jeopardy. Ghosn, 64, born in Brazil, schooled in France and of Lebanese heritage, is set to be ousted this week from his spot as Nissan chairman. He could also lose his roles as CEO and chairman of Renault, threatening the alliance formed in 1999 that's now selling more than 10 million automobiles a year. He's been "the glue that holds Renault and Nissan together," Bernstein analyst Max Warburton wrote in a note to investors. "It is hard not to conclude that there may be a gulf opening up between Renault and Nissan." In fact, Nissan's investigation into alleged misconduct by Ghosn is expanding to include Renault-Nissan finances, sources told Reuters — in a further sign that Nissan may seek to loosen its French parent's hold on their global carmaking alliance. Nissan told Renault's board on Monday it had evidence of potential wrongdoing at Renault-Nissan BV, the Dutch venture overseeing alliance operations under Renault's ultimate control, three people with knowledge of the matter said. Renault's board planned to meet Tuesday to discuss Ghosn's fate. "Carlos Ghosn is no longer in a position where he is capable of leading Renault," French Finance Minister Bruno Le Maire told France Info radio, calling on Renault's board to meet "in the coming hours" to set up an interim management structure. The French government owns 15 percent in Renault and has a say in its operations. Nissan's board is to meet Thursday to consider Ghosn's fate. Nissan has said it will dismiss Ghosn after he was arrested for allegedly abusing company funds and misreporting his income. That opens up a leadership void at the entire alliance, for which Ghosn officially still serves as CEO and chairman. Ghosn added Mitsubishi to the alliance two years ago after the tiny automaker was caught in a gas-mileage cheating scandal. Renault owns 43.4 percent of Nissan, which owns 15 percent of Renault, with no voting rights in a partnership that began in 1999. Since 2016, Nissan has held a 34 percent controlling stake in Mitsubishi Motor Corp.

Nissan, Renault in talks to merge as one company

Nissan and Renault have been tied together as an alliance for nearly 20 years, but now the Japanese and French automakers are discussing whether to merge. Bloomberg, citing unidentified sources familiar with the confidential talks, reports that the idea is to form a larger, single publicly traded company to better compete against giants like Toyota and Volkswagen. It would also mark the end of the alliance that first began in 1999 and also includes Mitsubishi, in which Nissan acquired a controlling interest in 2016. A full merger would help the companies pool resources to develop electric vehicles, autonomous vehicles and car-sharing services. It would involve Nissan giving Renault shareholders stock in the new company, with Nissan shareholders also gaining shares in the new company, Bloomberg reports. The new company would be run by Carlos Ghosn, the current chairman of both companies. But any such merger, as you might expect, would be complicated, in part by geopolitics. The French government owns a 15-percent stake in Renault, and both the French and Japanese governments might be reluctant to let go of their respective home-grown brands. Currently, Renault owns a 43-percent stake in Nissan, while Nissan owns 15 percent of its French partner. Reuters reported recently that Ghosn proposed buying most of the French government's stake in Renault as part of plans for a closer tie-up. The Renault-Nissan-Mitsubishi alliance already has been working to establish a $200 million mobility tech fund to invest in startups, a reflection of how seismic changes in the auto industry have left many legacy companies scrambling to stay current. Nissan in 2016 paid a reported $2.3 billion to acquire 34 percent of Mitsubishi in order to share platforms, technology, manufacturing and other resources. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Image Credit: Patrick T. Fallon/Bloomberg Earnings/Financials Government/Legal Green Mitsubishi Nissan Renault car sharing merger

Bathurst 12-hour gallery is GT3 heaven [w/video]

The 2015 Liqui-Moly Bathurst 12-Hour race was run this weekend at the Mt. Panorama Circuit in Bathurst, Australia. Race photographer Joel Strickland sent us a huge batch of photos, all of which make us salivate for the switch to GT3 rules in the United SportsCar Championship; the top seven finishers at Bathurst were of seven different makes: Nissan GT-R NISMO GT3, Audi R8-LMS Ultra, Aston Martin Vantage GT3, Bentley Continental GT3, Mercedes SLS AMG GT3, Ferrari F458 Italia and Lamborghini Gallardo. It was a sweet victory for the No. 35 car driven by the NISMO Athlete Global Team after it crashed in Saturday qualifying, and then was only in third place on the penultimate lap. The three-man driving team included two GT Academy winners, one of whom, Florian Strauss, has only been a professional race car driver for 18 months. It's the first time the GT-R has won at Panorama since the original R32 "Godzilla" took back-to-back wins in 1991 and 1992. Second place went to the No. 15 Phoenix Racing Audi R8-LMS Ultra, 2.4 seconds behind the winners, third to the Craft Bamboo Racing Aston Martin Vantage not even half a second behind the Audi. The Bentley Motorsport team, in its first Bathurst 12-Hour with two cars, had its No. 10 Continental GT3 in the lead until the penultimate lap and in second place until the final corner, but crossed the line in fourth after some rubbin'-is-racin' action from chasers. And if pictures aren't enough, as of writing you can still watch the live stream of the entire race at the Bathurst 12-Hour site. Or, if you don't have the time, at least be sure to check out the last five minutes, below. Enjoy. Featured Gallery 2015 Liqui-Moly Bathurst 12-Hour View 118 Photos Image Credit: Copyright 2015 Joel Strickland / AOL Motorsports Aston Martin Audi Bentley Nissan Coupe Racing Vehicles Videos aston martin vantage gt3