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Renault keeps 15% stake in Nissan, transfers majority of shares to French trust

Renault and Nissan completed a landmark deal to rebalance their 24-year-long alliance, paving the way for a new relationship after years of acrimony between the two partners. The automakers on Wednesday announced the creation of a French trust to which Renault transferred 28.4% of Nissan shares. The companies first disclosed plans for the trust in January. Renault Group and Nissan now have a cross-shareholding of 15% with lock-up and standstill obligations, the companies and junior alliance partner Mitsubishi Motors Corp. said in a statement. Renault managers in recent weeks have reiterated that staff should no longer share information with their Nissan counterparts, according to people familiar with the situation, after the French carmaker announced in September that aspects of the alliance would be unwound by year-end.  Taken together with the deal to equalize their cross-shareholdings at 15%, the developments are the clearest indications yet that members of one of the world’s biggest automotive tie-ups are increasingly going their separate ways. Renault told employees in September it was moving away from common structures with Nissan in favor of a new, project-by-project approach to working together. The dissolution of the companiesÂ’ joint purchasing organization means the two will no longer pool information on a regular basis due to antitrust concerns. The sell-down of shares held by the trustee will be coordinated with Nissan, which will have the right of first offer to purchase the stock. The trust will have no obligation to sell the shares within a specific or pre-determined period of time. The new alliance deal presented to investors in London in February followed months of tense negotiations that nearly collapsed late last year due to sticking points on intellectual property and disagreement over the valuation of RenaultÂ’s electric-vehicle and software arm Ampere, in which Nissan has agreed to invest. The alliance dates back to 1999, when Renault rescued Nissan with a cash injection and the two formed one of the biggest auto partnerships in the industry. Rivalries and mutual suspicion mounted over the years and came to a head when former leader Carlos Ghosn openly contemplated merging the two companies, contributing to his downfall.

2024 New York International Auto Show Editors' Top 5 Picks

The New York Auto Show, like many other shows over the past few years, has shrunk. But it's still playing host to some interesting reveals, and we even got a few surprises this year. It was dominated by Nissan and Hyundai Motor Group products, but ones running the gamut from affordable cars to flagship SUVs. It was a strange situation of being both quite diverse in reveals, and not at all, depending on how you looked at it. Our favorites of the show are a clear representation of that. And another interesting observation, only one of the picks was significantly electrified. Scroll down to see the best reveals of the New York Auto Show,. 2025 Nissan Kicks View 10 Photos 5. Nissan Kicks "The Nissan Kicks has gone from a reasonably attractive and small crossover into something way more funky with cool textures, color combinations and some actual presence. Plus, it's more spacious, more powerful and has available all-wheel drive. If Nissan can keep the price nice and low to compete with similarly stylish and well-executed competition like the Chevy Trax, the company's got a real winner on its hands." – News Editor Joel Stocksdale InfinitiQX80-Z63-051 View 39 Photos 4. Infiniti QX80 "The QX80 wasn't technically shown at the New York Auto Show, but it was revealed just a week prior at Hudson Yards – accross the street, in other words. Frankly, I wasn't blown away by the initial photos, but I think it looks great in person. The attention to detail both outside and in seem appropriate for an SUV that Infiniti hopes to sell for six figures loaded up. I'm a believer." – Associate Editor Byron Hurd 2025 Kia K4 Live View 7 Photos 3. Kia K4 Sedan "The Kia K4 interior has way more style than anything in the compact car price range has any business having. Now, if we don't get the green interior option shown in the initial global reveal photos, I'm retracting several of my points here. Otherwise, wowza. I kept looking and looking at that K4 interior photo, and finding new, interesting details to admire. Oh, and the exterior is pretty cool, too, though I do prefer the hatchback in that regard." – Senior Editor, West Coast, James Riswick Genesis GV60 Magma Concept View 10 Photos 2. Genesis GV60 Magma "I am psyched to see Genesis show off a proper performance car. The “Sport” trims on its various models are sort of neat, but the Magma brand looks like the real deal.

Evatran, Bosch will sell wireless home charger for as low as $1,998*

At the Consumer Electronics Show in Las Vegas today, the big news for plug in vehicles is that they can now start to ditch the plug. As expected, the system costs around $3,000 and is available for both the Nissan Leaf and the Chevrolet Volt. For the first 250 customers, though, Evatran is offering $1,000 off the standard price, a 30 percent discount. Deliveries start next month and Evatran says it expects the discounted units to all be snatched up in the first half of the year. The wireless charger charges as quickly as conventional corded systems. Called the Plugless Wireless EV charger, the 240-volt station will be installed by Bosch and needs a specific adapter to be used with the Volt or the Leaf (the Leaf version costs $100 more). So, any two-EV families out there will need to pony up double if there's a Chevy and a Nissan in the garage. Of course, since the Plugless system only works with older Leafs (2010-2012 model years - but with any Volt), any late adopters will not be able to take advantage of the new technology, for now. Evatran says the wireless charger "charges the Volt and Leaf as quickly as conventional corded systems and all vehicle features, such as charge-timers and phone applications, can be used seamlessly with the Plugless system." After the first 250 units, standard prices for the wireless chargers take effect again: $2,998 (Volt) and $3,098 (Leaf). Evatran says it will announce wireless chargers for additional vehicles and model years later this year. Evatran and Bosch offer Promotional Pricing as low as $1,998 to first 250 PLUGLESS™ Wireless EV Charging Customers LAS VEGAS, Jan. 6, 2014 /PRNewswire/ -- Evatran Group, Inc. ("Evatran"), in partnership with Bosch Automotive Service Solutions, announced today at the 2014 Consumer Electronics Show that it is offering reduced promotional pricing to the first 250 customers who opt to Go PLUGLESS with their electric vehicle ("EV") experience. The PLUGLESS system offers a convenient, wireless charging alternative to the repetitive process of unplugging and plugging-in electric vehicles. The reduced pricing includes all charging hardware and is as much as a 30% discount off the system's standard MSRP. The discount is available only to the first 250 customers. Initial shipments of the PLUGLESS system, the first wireless EV charging product in the world available to individual EV drivers, will begin in February 2014.