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Renault keeps 15% stake in Nissan, transfers majority of shares to French trust

Renault and Nissan completed a landmark deal to rebalance their 24-year-long alliance, paving the way for a new relationship after years of acrimony between the two partners. The automakers on Wednesday announced the creation of a French trust to which Renault transferred 28.4% of Nissan shares. The companies first disclosed plans for the trust in January. Renault Group and Nissan now have a cross-shareholding of 15% with lock-up and standstill obligations, the companies and junior alliance partner Mitsubishi Motors Corp. said in a statement. Renault managers in recent weeks have reiterated that staff should no longer share information with their Nissan counterparts, according to people familiar with the situation, after the French carmaker announced in September that aspects of the alliance would be unwound by year-end.  Taken together with the deal to equalize their cross-shareholdings at 15%, the developments are the clearest indications yet that members of one of the world’s biggest automotive tie-ups are increasingly going their separate ways. Renault told employees in September it was moving away from common structures with Nissan in favor of a new, project-by-project approach to working together. The dissolution of the companiesÂ’ joint purchasing organization means the two will no longer pool information on a regular basis due to antitrust concerns. The sell-down of shares held by the trustee will be coordinated with Nissan, which will have the right of first offer to purchase the stock. The trust will have no obligation to sell the shares within a specific or pre-determined period of time. The new alliance deal presented to investors in London in February followed months of tense negotiations that nearly collapsed late last year due to sticking points on intellectual property and disagreement over the valuation of RenaultÂ’s electric-vehicle and software arm Ampere, in which Nissan has agreed to invest. The alliance dates back to 1999, when Renault rescued Nissan with a cash injection and the two formed one of the biggest auto partnerships in the industry. Rivalries and mutual suspicion mounted over the years and came to a head when former leader Carlos Ghosn openly contemplated merging the two companies, contributing to his downfall.

Watch a pro drifter drive the Nissan Skyline with his feet

You can't let a few setbacks dissuade you from trying to achieve your goals, and that's as true in motorsports as anywhere else in life. If you want an inspiring example of someone who isn't letting adversity stand in his way, just check out professional drifter Bartosz Ostalowski. He doesn't have arms but still competes with one foot on the wheel. It would be amazing to see someone drift a car using just a foot in any setting. However, the fact that Ostalowski is able to do that during competitions makes the feat even more impressive. To make drifting possible, his car is a custom modified R34 Nissan Skyline with an automatic transmission and a LS V8 from General Motors for power. If you watch the video above, and somehow don't believe what Ostalowski does is possible, the clip shows another example of him at work. This one cuts between interior and exterior views of the same run. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Best trucks for the money in 2024, according to iSeeCars

Full-size trucks are some of the most popular vehicles on the road in the U.S., but they’ve become exceedingly expensive in some cases. That makes it even more important to choose the right full-size truck to maximize value and longevity. iSeeCars recently released its list of the best trucks for the money for 2024, ranking AmericaÂ’s full-size trucks on the cost to own over 10,000 miles. Though the Ford F-150 is the best-selling new full-size truck, it failed to break into the three best trucks for the money, landing at number four on the list. The top six pickups include: Chevrolet Silverado 1500: $2,863 per 10,000 miles Toyota Tundra: $2,868 Ram 1500: $3,352 Ford F-150: $3,469 GMC Sierra 1500: $3,598 Nissan Titan: $4,008 The list is short because there is only a handful of full-size trucks on sale. Though many are expected to last quite a while – some have lifespan estimates of more than 180,000 miles, and the Toyota TundraÂ’s average life is 226,032 miles – all of them are expensive. iSeeCars found that the average new truck purchase price is $61,353, with trucks like the GMC Sierra 1500 topping $66,000. iSeeCars ranked the trucks on their purchase price and 10,000-mile ownership costs, not on driving excitement, styling, tech, or safety. It also did not asses each truckÂ’s capabilities, such as towing and payload, but said that buyers looking to save money should only purchase one if they have “genuine truck needs.” The study looked at several vehicle types to find the best models for the money in each category. The Mitsubishi Mirage was the best car overall, returning a $1,099 10,000-mile ownership cost and a low $18,991 purchase price. The Toyota Tacoma was the best midsize truck, and Toyota landed a strong seven vehicles in the top 25 best cars for the money overall. Chevrolet Ford GMC Nissan RAM Toyota