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Nissan and Renault shelve merger plans, will repair their alliance

Renault and Nissan have shelved plans to push towards the full merger former leader Carlos Ghosn craved and will instead fix their troubled alliance to try to recover from the coronavirus pandemic, five senior sources told Reuters. Nissan has long resisted Renault's proposals for a full-blown merger as executives felt the French carmaker was not paying its fair share for the engineering work it did in Japan, sowing discord that some feared could wreck the partnership. Now, with carmakers around the world reeling from the pandemic, the partners are planning to overhaul an alliance that largely failed to convert its global scale into a competitive advantage beyond the joint procurement of parts. Both struggling carmakers are set to announce mid-term restructuring plans this week that will serve as a peace treaty designed to resolve the long-standing tensions, five people familiar with the overhaul told Reuters. "After the rain, the earth hardens," said one senior Nissan source, citing a popular Japanese proverb that means relationships become stronger after a period of strife. All five sources within the alliance, which also includes Mitsubishi, declined to be named because they are not authorized to speak with media. Nissan and Renault are each planning substantial restructuring and cost cuts that could affect tens of thousands of jobs, with the Japanese company to announce its measures on May 28 and its French partner likely to follow the next day. Before that, Mitsubishi, Nissan and Renault are holding a joint news conference on May 27 during which they are expected to outline the philosophy behind their new "leader-follower" approach to the alliance. The sources said the companies were unlikely to disclose many details at the events this week of how the new approach will be used to share costs as the companies were still working on specific projects. However, the crisis at both carmakers has accelerated efforts to resolve the disagreements that have stymied collaboration and cost-sharing in technology and product development for five years, the sources said. Mitsubishi, Nissan and Renault all declined to comment officially about alliance plans. 'Leader-follower' The alliance has steadily ramped up output over the years, delivering over 10 million vehicles for the first time in 2017, the first full year after Mitsubishi joined the partnership.

Nissan reviving Pulsar name for Euro market

The Nissan Pulsar doesn't have what we'd consider a rich history in the US, other than on some models decades ago. However, the nameplate has been part of the Nissan lineup globally since 1978 and has proven popular in Asia and Australia. Now, the brand is teasing a five-door hatch to revive the name and hit European showrooms this fall.
The new Pulsar will be built at the company's recently renovated factory in Barcelona, Spain. It's not clear from the teaser whether this is the same model that is already sold in other parts of the world or a brand new vehicle. Although, Nissan says in the announcement that the car "has been designed to meet the specific demands of European car buyers."
With competitors like the Volkswagen Golf and Ford Focus, the European five-door hatch market is seriously competitive. It will be interesting to see if Nissan will have something special to bring to the table. Scroll down to read Nissan's full teaser about its latest hatchback in Europe.

Nissan names Makoto Uchida as next CEO

TOKYO — Nissan named Makoto Uchida, the head of its Chinese business, as its next CEO, picking an executive known for close ties to top shareholder Renault and for a frank, straight-talking manner that has marked him as an outsider. By selecting Senior Vice President Uchida, Nissan's board has gone with someone slightly at odds with its traditional corporate culture. He joined the carmaker mid-career in 2003, a rarity in a country where top executives usually spend their entire working lives at the same company. Known for his unflagging work ethic and relentless focus on cost control, Uchida was described by one long-time associate who spoke on condition of anonymity as a "foreigner with a Japanese face" — direct and to the point in conversations. He will be joined by newly appointed Chief Operating Officer (COO) Ashwani Gupta, currently COO of junior partner Mitsubishi Motors, in trying to find new ways to revive a business that has been struggling for months with plunging profits, management scandal and tensions with Renault. Japan's second-largest automaker has been shaken in particular by the arrest of former Chairman Carlos Ghosn last year on allegations of financial misconduct, which he denies, and the more recent departure of CEO Hiroto Saikawa after he admitted to being improperly overpaid. Whether the 58-year-old former theology student can deliver a miracle turnaround — particularly at Nissan's business in the United States — and repair ties with Renault will now be a focus for investors. "The biggest business challenge for Nissan is speeding up," the head of Nissan's nominations committee, Masakazu Toyoda, told a news conference. "Speedy decision making is a challenge that Uchida raised, and to this end he said that he wants to empower people as much as possible, so we decided to ask Uchida to take on the CEO role." One source close to Renault described the selection as "a victory for the alliance", saying that both Uchida and Gupta knew the business and were ready to help Nissan recover. 'ISN'T REALLY JAPANESE' Before his ouster, Ghosn had been working on a plan for a full merger of Renault and Nissan, but had met resistance in Japan, which is concerned about French influence in the alliance. The French government is a major Renault shareholder. Relations were further strained this year when Renault held abortive merger talks with Fiat Chrysler Automobiles.