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Nissan seeks tech tie-up without Renault as alliance nears end of road

Nissan is developing growth plans in areas such as software and electric vehicles (EVs) independent of Renault SA as the automakers work to finalize terms of a sharply limited alliance, said seven people with knowledge of the matter. Japan's third-biggest automaker by sales is seeking a partner outside the auto industry to develop software that connects vehicles to cloud-based services, two people involved in discussions said, without elaborating on candidates. That would address a relative weakness for Nissan as it tries to make cars "smarter and more connected," one of the people said. It is also working on an expanded strategy for all-battery and plug-in EVs for North American and Asian markets that will be for Nissan alone, they said. The revelations come as the alliance oversight board met this week to discuss a rebalance that will see Renault cut its stake in Nissan to 15% from 43% — matching the size of Nissan's stake in Renault — and Nissan gain reciprocal voting rights. Under the deal, to be finalized by mid-year, Nissan will also invest in the French automaker's new Ampere EV business. Imbalance had long riled Nissan executives who complained Renault did not pay its fair share of costs for innovation and development. Nissan's emerging strategy reflects a belief within the automaker that the 23-year-old alliance has run its course for many of the biggest challenges it faces, the people said. While Nissan sees continued savings in shared parts procurement with Renault, it has no plan to provide engineering support to Ampere, said two of the people, who all asked not to be identified because talks between the pair are ongoing. It also has no plan to provide its e-Power hybrid technology to a gasoline powertrain-focused joint venture Renault has with China's Zhejiang Geely Holding Group Co Ltd and Saudi Aramco Base Oil Co JSC, two of the people said. GOING SOLO Such go-it-alone thinking is shaping a longer-term plan that could be announced by year-end focusing on improved operational performance, electrification and software allowing self-driving and other "connected car" features, one of the people said. "Even if Renault gets something from Nissan, benefits moving in the other direction are hard," a second person with knowledge of Nissan's stance said.

Geely and Renault joint venture will develop internal combustion and hybrid tech

China's Geely Automobile Holdings and French car maker Renault SA on Tuesday said they will invest up to 7 billion euros ($7.71 billion) in a new equally held joint venture to develop gasoline engines and hybrid technology for automobiles. The JV is aimed at manufacturing more efficient internal combustion engines and hybrid systems at a time when the focus of much of the automobile industry has been on the capital-intensive transition to purely electric vehicles. "We are pleased to be embarking on this journey to become a global leader in hybrid technologies, providing low-emission solutions for automakers around the world," said Eric Li, Geely Holding Group chairman. The new company will employ 19,000 people at 17 engine plants and five research and development hubs, Renault said. At launch, it is expected to supply to multiple industrial customers including Volvo, Proton, Nissan, Mitsubishi Motors, and PUNCH Torino. The JV aims to have an annual production capacity of up to five million internal combustion, hybrid and plug-in hybrid engines and transmissions, Renault added. Reuters reported in March that the new venture will see 15 billion euros ($16.53 billion) in annual revenue. Saudi Aramco, which signed a letter of intent with Renault and Geely in March, is evaluating a strategic investment in the new company, Renault said. The Saudi oil producer has been involved in advanced discussions to take a stake of up to 20% in the JV, sources said earlier this year. Big oil firms have worked with automakers to develop sustainable fuels and hydrogen engines in recent years. But a deal here would make Aramco the first major oil producer to invest in the car business. The joint venture is expected to be launched in the second half of 2023. Earnings/Financials Green Mitsubishi Nissan Volvo Renault

Nissan, Mitsubishi confirm plans to invest in Renault EV unit Ampere

PARIS — Renault's longstanding alliance partners Nissan and Mitsubishi confirmed plans to invest in the French car maker's electric vehicle unit Ampere and use it to develop EVs for the European market, the companies said on Wednesday. After years of contentious partnership, the announcement on Wednesday confirms that the new alliance between the three automakers is smaller and more pragmatic, focusing on regional cooperation. Nissan and Mitsubishi confirmed they would invest respectively up to 600 million euros ($647.46 million) and 200 million euros in Ampere, which has been carved out from the rest of Renault and is due for a public listing next year. Nissan will become "a strategic investor" in Ampere, Makoto Uchida, CEO of the Japanese car marker told reporters, adding the company may use the EV unit's software and connectivity innovations in other markets outside Europe. "Developing electric vehicles all over the world alone would be very challenging," he said. Ampere will develop and manufacture an electric version of the compact Nissan Micra for the European market and a medium-sized electric SUV for Mitsubishi. Renault CEO Luca de Meo said Ampere will cut the costs for the Micra for Nissan by 50%. The alliance partners also confirmed their joint projects in Latin America and India. In September, Renault, Nissan and Mitsubishi ended their common purchasing agreement, which they said would allow them to focus on individual projects and adapt more quickly to regional differences in automotive markets. At the end of July, Renault and Nissan finalised the terms of a restructured alliance after months of negotiations. Talks dragged on for months longer than expected due in part to Nissan, which was concerned about protecting its intellectual property in future collaborations. Related video: Earnings/Financials Green Mitsubishi Nissan Renault Electric