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Nissan says talks with Renault focused on better competing in electric cars

TOKYO — Nissan's talks with Renault on revamping their alliance are focused on strengthening competitiveness as equal partners and getting the most from their investment in electric cars, the Japanese automaker's CEO told Reuters. The negotiations with Renault, Nissan's top shareholder, have less than two weeks remaining to meet a Nov. 15 target the companies had set to reach a deal, according to people with knowledge of the talks. Nissan Chief Executive Makoto Uchida declined to comment on whether an agreement could be reached this month. But he said he was talking with Renault CEO Luca de Meo every weekend and the talks would be "ongoing for the future." People familiar with the negotiations have said the sharing of technology had emerged as one sticking point. Uchida, who has spent much of his Nissan career in positions related to the Franco-Japanese alliance, emphasised that the talks were based on mutual trust. Each company had valuable technology and discussions of technology transfers were to be expected, he added. He said the goal was to improve the automakers' ability to compete at a time of economic uncertainty and as the industry pushes toward what he described as its biggest transformation in a century with the shift to electric vehicles. "The discussion we are having is about how to make our competitiveness even stronger," Uchida said in an interview with Reuters on Friday. "That's number one." His comments were his first to media since the automakers last month said they were discussing the future of their alliance. The partnership, which began with a 1999 investment from Renault and was long overseen by former executive-turned-fugitive Carlos Ghosn, was critical to turning around the Japanese automaker. But Nissan executives have over the years bristled over the unequal ownership structure, with Renault owning 43% of Nissan and the Japanese automaker holding only a 15% non-voting stake in Renault. People with knowledge of the talks have said the two sides have been discussing a reduction in Renault's stake, potentially to 15%, and the terms under which that could happen. "We want it to be an equal partnership," Uchida said, adding that an "equal partnership would make sense and that would speed up the collaboration even more." He did not comment on potential stake levels.

Nissan Leaf and the future of auto shows | Autoblog Podcast #525

Related: We obsessively covered the Frankfurt Motor Show — here's our complete coverage On this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Associate Editor Joel Stocksdale. The pair discuss the long-awaited reveal of the second-generation Nissan Leaf as well as the Alfa Romeo Giulia and BMW M550i that recently passed through the office. They also preview the 2017 Frankfurt Motor Show and discuss the future and relevance of auto shows. The rundown is below. Remember, if you have a car-related question you'd like us to answer or you want buying advice of your very own, send a message or a voice memo to podcast@autoblog.com. (If you record audio of a question with your phone and get it to us, you could hear your very own voice on the podcast. Neat, right?) And if you have other questions or comments, please send those too. Autoblog Podcast #525The video meant to be presented here is no longer available. Sorry for the inconvenience.Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Topics and stories we mention Rundown Nissan Leaf reveal Frankfurt Motor Show preview What we're driving: Alfa Romeo Giulia and BMW M550i Unpopular opinion: the relevance of auto shows Spend my money Feedback Email – Podcast at Autoblog dot com Review the show on iTunes Image Credit: BMW, Nissan Green Podcasts Frankfurt Motor Show Alfa Romeo BMW Nissan Hatchback Electric Luxury Sedan alfa romeo giulia

Weekly Recap: The cost of Tesla's ambitious plans for growth

Tesla has ambitious plans for growth, and they won't come cheap. The electric-car maker said this week it plans to spend $1.5 billion in 2015 to expand production capacity, launch the Model X crossover and continue work on its Gigafactory, which is being built outside of Reno, NV. The company is also investing in its stores, service centers and charging network, which is expected to grow by more than 50 percent this year. Plus, it's still working on the Model 3, which is scheduled to arrive in 2017. "We're going to spend staggering amounts of money on [capital expenditures]," Tesla chairman and CEO Elon Musk said on an investor call. He then added: "For a good reason. And with a great ROI [return on investment]." They're bold plans, and Musk is clearly willing to put Tesla's money where his mouth is. That's why the company is projecting a whopping 70-percent increase in deliveries this year, for a total of 55,000 cars. A large chunk of that growth will come from the addition of the Model X crossover to Tesla's portfolio, and the company already has nearly 20,000 reservations for it. More than 30 Model X prototypes have been built, and it is expected to begin shipping to customers this summer. Musk said he's "highly confident" the vehicle, which has experienced delays, will arrive on time. The company also had more than 10,000 orders for the Model S at the start of the year. The big spending plans caused a stir, even though Tesla spent $369 million on capital expenditures in the fourth quarter alone. In a note to investors, Morgan Stanley analysts called the costs required to keep pace with Tesla's demand "eye-wateringly high," and said the $1.5-billion figure was nearly double their expectations. Still, Musk is not thinking small and suggested that his company could be as big in 10 years as Apple is now if Tesla's growth continues. His optimism comes as the company actually reported a $294-million net loss in 2014, more than its $74-million loss in 2013. The money, however, continues to roll in, and total revenues increased to $3.2 billion in 2014, up from $2 billion in 2013 and a dramatic surge from $413 million in 2012. More of the same is expected this year, and the company could reach $6 billion in revenue. As Morgan Stanley noted, it "seems Tesla is preparing to be a much larger company than we have forecasted." It's certainly spending that way.