2012 Nissan Altima Coupe on 2040-cars

Auto blog

Renault and Nissan in talks that could reshape autos alliance

PARIS/TOKYO – Renault and Nissan said on Monday they were in talks about the future of their alliance, including the Japanese automaker considering investing in a new electric vehicle venture by its French partner. The talks, which could prompt the biggest reset in the alliance since the 2018 arrest of longtime executive Carlos Ghosn, have included consideration of Renault selling some of its Nissan stake, two people with knowledge of them said. Negotiations are expected to continue ahead of a Renault investor presentation in early November, when the French carmaker is expected to give an update on its new EV unit, which is code-named "Ampere." Renault owns about 43% of Nissan, which in turn has a 15% stake in its long-term partner. The French state also has a 15% holding in Renault. Shares in Renault rose by as much as 6% in early trading, making the stock the best performer on France's benchmark CAC-40 equity index. They were up 3.54% by 1105 GMT. Renault and Nissan said in a joint statement that they were "engaged in trustful discussions around several initiatives" including a potential Nissan investment in the EV venture and what they called "structural improvements" in their alliance. Renault CEO Luca De Meo, who was in Japan over the weekend, and Nissan CEO Makoto Uchida have been central to talks about reshaping its terms, a person familiar with the talks said. A group of Nissan executives, including Chief Operating Officer Ashwani Gupta, have also been involved in developing discussions in recent months, the person said. Renault is looking to win Nissan as an investor in its new EV venture, which it is setting up alongside a separate combustion engine unit, essentially splitting out the higher-growth and investment-hungry portion of its auto business. In exchange for investing in the EV venture, Nissan is looking to Renault to reduce its stake in the Japanese automaker, a person familiar with the talks said. The French dominance of the alliance has long been a point of contention for Nissan, which wants Renault to cut its stake to 15% to draw level with its own holding in Renault, the source familiar with the matter told Reuters. For Nissan, the talks could represent a chance to reset a structure that many executives at the Japanese firm have seen as unbalanced, given the way vehicle development work between the two carmakers has progressed in recent years.

Ghosn hid part of Nissan salary, fearing he'd be forced out of Renault, exec testifies

TOKYO — Carlos Ghosn hid part of his compensation at Nissan because he feared the French government would force him out of Renault if it discovered how much he earned, an executive at the Japanese carmaker told a Tokyo court on Thursday. Hari Nada, a former Nissan vice president in charge of legal affairs, has been described as organizer of a putsch against Ghosn and is a key whistleblower in the case brought by Japanese prosecutors against the former Nissan and Renault boss, who was arrested in 2018. Nada was testifying at the trial of former Nissan executive Greg Kelly, who is charged with helping Ghosn hide 9.3 billion yen ($89 million) in compensation over eight years through deferred payments after Japan introduced new rules requiring executives to disclose payments above 1 billion yen. Kelly has pleaded not guilty. He has been on bail in Japan since his release from jail in 2018 and is facing trial without Ghosn because his co-accused fled to Lebanon in December 2019. Ghosn, who was one of the world's most prominent auto bosses as head of the Renault-Nissan-Mitsubishi alliance, has denied wrongdoing. He says he is the victim of a boardroom coup by former Nissan colleagues worried he would push through a merger between Nissan and Renault, its largest shareholder. Nada told the court that Ghosn had concealed his true compensation because he feared the repercussions in France. He said Kelly had given him this information. "He didn't want to be fired. If he paid himself what he wanted and that was disclosed, the French state would have felt obliged to fire him," said Nada, who agreed to cooperate with Japanese prosecutors in return for immunity from prosecution. France's economy ministry declined to comment. Nada was demoted following Ghosn's arrest. Ghosn, who is also charged with enriching himself through $5 million in payments to a Middle East car dealership, and for a breach of trust for temporarily transferring personal financial losses to his employer's books, also denies any wrongdoing. A former Nissan chief operating officer offered another perspective on Tuesday, outlining the pains company officials took to hide GhosnÂ’s pay, because they worried about his quitting for a rival. “Carlos Ghosn is a world-class business leader and CEO,” said Toshiyuki Shiga, testifying at the trial of his former colleague Greg Kelly, charged with under-reporting GhosnÂ’s compensation.

On Location: 2015 Nissan Micra Cup racecar at Mont-Tremblant

Circuit Mont-Tremblant has an almost mythical aura for North American road racers, and it was the setting for our high speed test of the 2015 Nissan Micra Cup racecar. Nestled in the Laurentian Mountains of Quebec, the course hosted Formula One races in 1968 and 1970, Trans-Am and Can-Am competition in the 1960s and '70s, and more recently a Champ Car event in 2007. In its current configuration, Mont-Tremblant has 15 turns and covers 2.65 miles of rural Quebec about 90 minutes northwest of Montreal. Put simply: It's an excellent venue to test the Micra Cup racer, which is underpinning a spec series in Canada this summer and fall. The cars are outfitted with a Nismo suspension kit, FIA-approved racing seat with a five-point harness, safety cage, upgraded brakes, modified exhaust, and Pirelli low-profile performance tires. The stock 1.6-liter four-cylinder engine with 109 horsepower mated to a five-speed manual is unchanged. It's a cool, misty day when we get behind the wheel of the Micra Cup car. Though we're nervous, Nissan is billing the Micra Cup as a series for nearly anyone, calling it the bridge between karting and more serious racing. We believe that – the Cup car is fairly easy to drive – and our instructor is helpful with tips on the gearing and setting up corners. We finish our laps feeling excited, challenged, and wanting more. As the video above shows, the car is eager to please, and it's a lot of fun to toss around an iconic track.