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FCA withdraws its offer to merge with Renault

UPDATE: Fiat Chrysler Automobiles released a statement confirming that it has withdrawn its merger offer, saying "it has become clear that the political conditions in France do not currently exist for such a combination to proceed successfully." The full statement can be read below our original story, which continues below. Fiat Chrysler has withdrawn its $35 billion merger offer for Renault, the Wall Street Journal and Bloomberg News reported on Wednesday. A source said that FCA had informed Renault it had withdrawn the offer after Renault's board of directors failed to reach a decision on the merger during a meeting that ran late into the night Wednesday. Instead, the board granted the French government's request to postpone its vote. The government wanted time to persuade Renault's reticent alliance partner Nissan. Renault's board issued a press release that said simply that it was "unable to take a decision due to the request expressed by the representatives of the French State to postpone the vote to a later Council." WSJ reported that Nissan's two members on Renault's board were balking, while the rest of the board favored the merger. The French government wouldn't it back the deal unless Nissan agreed to maintain its role in the Renault-Nissan alliance, sources said. Nissan had received little advance warning of the merger proposal and was balking. Apparently the French government thought Nissan could be brought around if given more time. "We should take our time to make sure that things are done well," French Finance Minister Bruno Le Maire told French television on Wednesday. When the French requested a delay and Renault's board granted it, FCA withdrew. The French state, which owns 15% of Renault, had also been seeking more influence over the merged company, firmer job guarantees and improved terms for Renault shareholders in return for blessing the $35 billion tie-up. The merger would have created the world's third-biggest automaker with combined sales of 8.7 million vehicles per year, and was intended to cut costs as the parties develop electric and autonomous vehicles. Read Fiat Chrysler Automobile's full statement below: FCA withdraws merger proposal to Groupe Renault June 5, 2019 , London - IMPORTANT NOTICE The Board of Fiat Chrysler Automobiles N.V. ("FCA") (NYSE: FCAU / MTA: FCA), meeting this evening under the Chairmanship of John Elkann, has resolved to withdraw with immediate effect its merger proposal made to Groupe Renault.

Recharge Wrap-up: Comparing Nissan Leaf performance by climate, natural gas iffy for trucks

A new Carnegie Mellon University study looks at the effects of regional climate variations on the Nissan Leaf. The study shows (unsurprisingly) that the ambient temperatures of different regions have effects on battery performance and the use of climate control, both of which affect range. Efficiency and grid mix determine regional differences in emissions per mile. CMU enumerated many of the differences in performance across the US. For instance, on the coldest day of the year, maximum range can be 70 miles on the Pacific Coast, while it is less than 45 miles in the Upper Midwest. These differences in efficiency can also affect adoption patterns. Read more at Green Car Congress. Battery charger manufacturer CTEK has licensed WiTricity wireless charging technology. CTEK looks to commercialize the wireless power transfer tech for use with electric vehicle batteries, making the "plug-in" aspect of EV charging unnecessary. WiTricity's charging technology stands out for its ability for distance charging via magnetic near field. "We are excited to be on the forefront of the next generation of battery charging products for consumers and industry, and look forward to leveraging WiTricity's ground-breaking technology to bring a new level of convenience and ease of use to market," says CTEK CEO Jon Lind. Wireless charging is convenient for the public, but also especially useful for emergency vehicles, which need to be ready at a moment's notice but also keep electrical systems online while the car is parked. Read more at Green Car Congress or at the WiTricity website. Switching heavy trucking fleets from diesel to natural gas could make economic sense, but the environmental benefits aren't as certain, according to a new study from UC Davis and Rice University. Certain regions - particularly California, the Great Lakes and mid-Atlantic regions - could benefit from the switch with minimal investment. "But to have an environmental advantage for reducing greenhouse gas emissions would take significant policy intervention," says Amy Myers Jaffe, executive director for Energy and Sustainability at UC Davis. This would mean stricter efficiency standards for natural gas trucks, as well as stronger regulations for methane leakage. Read more in the press release from UC Davis below.

2015 Nissan GT-R Nismo priced from $149,990* [w/videos]

Remember when they called the Nissan GT-R a supercar-slayer? You can drop the "slayer" part, because the Japanese brute known as Godzilla has long since grown from an ankle-biter nipping at the heels of giants to a giant in its own right. And if that's the case with the "basic" GT-R, it's certainly the case with the new GT-R Nismo.
While the base price for the GT-R has breached the six-figure mark, the Nismo version has just been priced ten bucks shy of $150k. Factor in the $1,595 destination charge and you're looking at a $151,585 sticker price. That may seem like a lot for a Nissan, but bear in mind what you're getting for all that scrap: the GT-R Nismo's 3.8-liter twin-turbo V6 has been optimized to deliver 600 horsepower and 481 pound-feet of torque to all four wheels.
We've yet to see official performance stats, but considering that the base GT-R hits 60 in 2.6 seconds with 55 hp and 18 lb-ft less muscle, the Nismo version ought to teach a lesson or two to exotic supercars costing twice or even ten times as much. Just check it out in the videos and press release below.