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Nissan is exploring the sale of its 34% stake in Mitsubishi

TOKYO — Nissan is looking to sell some or all of its 34% stake in Mitsubishi Motors, Bloomberg News reported on Monday, citing unidentified sources, a move that would reshape a three-way alliance that includes France's Renault. Nissan shares rose 5% on the news. Mitsubishi Motors was up 3%. "There are no plans to change the capital structure with Mitsubishi," a Nissan company spokeswoman told Reuters in an emailed statement. A Mitsubishi Motors spokesman said the same, adding the company would continue to collaborate within the alliance. Renault did not immediately respond to an email seeking comment. Nissan, struggling to recover from the pandemic-induced downturn, could sell its stake to a Mitsubishi group company such as Mitsubishi Corp, which already owns a fifth of Mitsubishi Motors, Bloomberg said. Such a deal would fundamentally alter a three-way partnership built by Carlos Ghosn, former chairman of the alliance, which plunged into confusion when he was arrested in 2018 on charges of financial misconduct. Ghosn had wanted a full merger of Renault and Nissan, which was shelved, according to Reuters sources, as the companies decided to fix the troubled alliance. The pandemic has, however, compounded problems and made a recovery hard. Nissan, which is 43% owned by Renault, last week cut its operating loss forecast for the year to March by 28%, helped by a rebound in demand, especially in China. Mitsubishi Motors, Japan's No.6 automaker, expects to post an operating loss of 140 billion yen for the business year. Both companies are cutting production levels and costs in a bid to return to profitability. Related Video:

Nissan wants French State out of its alliance with Renault

While it's called the Renault-Nissan Alliance, the French side actually throws around a lot of weight in the relationship, and the government there is the largest shareholder. Meanwhile, the Japanese company generates about two-thirds of the sales. As leader of both automakers, Carlos Ghosn is reportedly now working to put more control into the Nissan side, according to insiders speaking to Reuters. The French State is expected to fight hard against losing sway. The government in France prompted Ghosn's distrust after buying up 19.7 percent of Renault's stock, from a previous 15 percent. Officials snubbed the CEO by giving him just a few hours notice, according to Reuters. Now, the boss is looking for ways to mitigate state control, but to make this plan happen Ghosn needs formal approval from the Renault board. If successful, the proposed plan would overhaul the close partnership between the automakers. Whereas the French side currently has the final say in decisions, this move would grant both of them equal power. In addition, Nissan would become the largest owner of Renault, but the French wouldn't have the same control over its Japanese ally. The French government isn't ready to just hand over power to Ghosn, though, because it reportedly wants to protect jobs in the country. The Alliance "must not be destabilized by governance changes or adjustments that could also lead to conflicts of interest," Economy Minister Emmanuel Macron said to Reuters. Clearly, this fight is just beginning. Related Video:

ROEV lets you use multiple charging networks with one account

It may be a textbook case of a first-world problem, but any EV driver who doesn't want to carry two or three plug-in vehicle charging station cards when one would do is about to get a little smile on their face. This morning at the LA Auto Show, the new ROEV Association was announced that will let EV drivers carry just the one card. While you would think the all-caps ROEV stands for something, none of the pre-announcement materials nor the website explain it that way. Instead, it seems to just be a play on rove, which makes a lot of sense. There are three charging networks involved in ROEV: Blink, ChargePoint, and EVgo. Conveniently, these are the three largest in the US and have a combined 17,500 public chargers across the country. If you've got an account with one of these three networks, once ROEV goes into effect (expected in the spring of 2016), you'll be able to use that card at any participating charger without signing up for another account. Your personal details are kept private, ROEV says, and the companies coordinate behind the scenes to make it work. Pricing details were not disclosed. Besides the three main charging networks, two automakers are also founding members of ROEV: BMW and Nissan. ROEV says that Audi and Honda have also have already joined the Association and the organization wants to pull in all EV stakeholders to make electric vehicle charging easy. Fans of EV technology will note that ROEV has nothing to do with promoting either the CHAdeMO or the SAE Combo (CCS) fast charging standard. The Leaf is a CHAdeMO car while the i3 uses CCS, for example. The charging networks, of course, provide both kinds of plugs and don't promote one over the other. Tesla and its Supercharger network are not involved in ROEV, but Tesla drivers can, of course, participate in ROEV.