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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.

2016 Nissan Titan gets video teaser ahead of Detroit debut

The Detroit Auto Show is going to be quite an event for pickup fans thanks to introductions of the new Toyota Tacoma and at least the rumor about the future F-150 Raptor. In addition to them, Nissan will finally unveil its next-gen Titan after months of teasing and spied glimpses. With just a few weeks before the big show, Nissan is giving us one more glimpse of the new Titan on video. This time the company plays up the pickup's American development, but the highlight for fans are the brief shots of its frame and Cummins 5.0-liter diesel V8. The engine is rumored to pump out over 300 horsepower and about around 550 pound-feet of twist. Check out the clip above another chance to see just a little more of the next Titan.

Fiat contemplating sub-brand to compete with Dacia, Datsun

You can add Fiat to the admittedly short list of automakers considering a low-cost brand to rival Dacia. The inexpensive Eastern European brand from Renault-Nissan has performed on the balance sheet like a premium model line, and the money the alliance is taking off the table is encouraging other players to deal themselves in. Pretty soon Nissan's Datsun sub-brand will join the Dacia party, going on sale in Russia, Indonesia and India and will claim even more rubles, rupiahs and rupees for the parent company. Volkswagen recently said it will make a decision this year on a budget line for the Chinese market. With the euthanasia of Lancia and plans to move the Fiat brand upmarket, company CEO Sergio Marchionne wonders aloud to Automotive News Europe whether there could be room for a new budget brand underneath Fiat.
We're told that the initiative has been in the idea box for five years and even moved to the stage of name considerations, like Innocenti, but worries about profit kept it from realization. If such a range were to be developed, Marchionne says it couldn't be built in Italy and stay within budget, and the company is "analyzing its manufacturing capacity outside of Europe to see if a low-cost brand is viable."