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Renault delays decision on merger with Fiat Chrysler

PARIS — Renault has delayed a decision on whether to merge with Fiat Chrysler Automobiles, a deal that could reshape the global auto industry as carmakers race to make electric and autonomous vehicles for the masses. The deal still looks likely, but faced new criticism Tuesday from Renault's leading union and questions from its Japanese alliance partner Nissan. The French government is also putting conditions on the deal, including job guarantees and an operational headquarters based in France. The French carmaker's board will meet again at the end of the day Wednesday to "continue to study with interest" last week's merger proposal from FCA, Renault said in a statement. A Renault board meeting Tuesday to study the deal was inconclusive. The company didn't explain why, but a French government official said board members don't want to rush into a deal and are seeking agreement on all parts of the potential merger. The official, who spoke on condition of anonymity in line with government policy, told The Associated Press the conditions outlined by France's finance minister still "need to be met." France and Italy are both painting themselves as winners in the deal, which could save both companies 5 billion euros ($5.6 billion) a year. But workers worry a merger could lead to job losses, and analysts warn it could bog down in the challenges of managing such a hulking company across multiple countries. And a possible loser is Japan's Nissan, whose once-mighty alliance with Renault and Mitsubishi is on the rocks since star CEO Carlos Ghosn's arrest in November. Nissan CEO Hiroto Saikawa cast doubt Tuesday on whether his company will be involved in a Renault-Fiat Chrysler merger — and suggested adding Fiat Chrysler to the looser Renault-Nissan-Mitsubishi alliance instead. Saikawa said in a statement that the Renault-Fiat Chrysler deal would "significantly alter" the structure of Nissan's longtime partnership with Renault, and Nissan would analyze its contractual relationships to protect the company's interests. If Renault's board says "yes" to Fiat Chrysler, that would open the way for a non-binding memorandum of understanding to start exclusive merger negotiations. The ensuing process — including consultations with unions, the French government, antitrust authorities and other regulators — would take about a year. A merger would create the world's third-biggest automaker, worth almost $40 billion and producing some 8.7 million vehicles a year.

Recharge Wrap-up: Toyota battery breakthrough, PSA's millionth BlueHDi diesel

Scientists at Toyota have developed battery technology that allows for higher energy density. Using material from hydrogen storage, researchers at the Toyota Research Institute of North America (TRINA) in beautiful Ann Arbor, Michigan have created an electrolyte that works well with a magnesium metal anode. Besides improving energy density for smaller, more powerful batteries, magnesium is also more stable than lithium, making it a safer alternative. Rather than guarding their secret, Toyota is sharing details of this breakthrough in order to advance the technology in hopes of an earlier mass deployment of magnesium batteries. See the video above, and read more in the press release below. Farmdrop – a sort of online farmer's market in the UK – is looking for help naming its electric delivery "vanimals." The Nissan e-NV200 vans are painted and decorated to look like cows, pigs, and chickens. While three of the vans have already been named, fans can suggest their own clever ideas for the rest of the fleet on social media. Those whose names are selected will win a month's worth of shopping on Farmdrop. Cary McCarface, anyone? Read more at the company's website. PSA has built its millionth Euro 6 BlueHDi diesel engine. The automaker builds two diesel engines – a 1.6-liter and a 2.0-liter – at its plant in Tremery, France at a rate of 7,000 engines a day. BlueHDi technology uses three different emissions control mechanisms to filter pollutants out of diesel exhaust, including an oxygen catalyst, an additive filter to remove particulate matter, and a Selective Catalytic Reduction system to reduce NOx. BlueHDi is used in all new Peugeot, Citroen, and DS Euro 6 diesel vehicles. Read more at Green Car Congress. Charging Ahead Toyota Scientists Make Breakthrough on Safer, Smarter Batteries May 04, 2016 ANN ARBOR, Mich. (May 4, 2016) -- For anyone (i.e. everyone) who's ever panicked when their mobile device chirped, "low battery," the future could be far less stressful, thanks to the advanced battery research of scientists at the Toyota Research Institute of North America (TRINA). A new breakthrough involving magnesium batteries may soon open the doors for smaller, longer-lasting batteries for everything from cars to cell phones. What's the Big Deal with Magnesium? Magnesium metal has long been theorized as a much safer and more energy-dense alternative to current lithium battery technology.

Ghosn's first jail interview: I was the victim of 'plot and treason'

TOKYO — Carlos Ghosn said Nissan executives opposed to his plans for closer ties with automaking partner Renault SA resorted to "plot and treason" to disrupt them and were behind the financial misconduct allegations against him. Speaking to the Nikkei newspaper in his first media interview since his arrest on Nov. 19, Ghosn said he had discussed plans to integrate the companies with Nissan CEO Hiroto Saikawa in September. But Nissan executives employed "plot and treason" to uproot those plans, Ghosn said. Ghosn, who spearheaded Nissan's turnaround two decades ago, had pushed for a deeper tie-up between Nissan and Renault, including possibly a full merger, despite strong reservations at the Japanese corporation. He remains in detention following his arrest and indictment on charges related to breach of trust and understating his salary. His arrest has clouded the outlook for closer ties between Nissan and Renault, along with Mitsubishi Motors Corp, the third member of the automaking alliance Since his arrest, Saikawa has said it was not the time to discuss revising the partners' complex capital ties. Nissan and Mitsubishi Motors have dismissed Ghosn as chairman, while he has resigned from the helm at Renault. Ghosn denied accusations of improper payments to a company run by a Saudi businessman, saying the payment had been approved by a Nissan executive. Ghosn also called accusations by both Nissan and Mitsubishi that he received nearly 8 million euros in improper payment through a Dutch-based joint venture of the two automakers "a distortion of reality," and argued his luxury residences in Rio de Janeiro and Beirut were approved by Nissan's legal department. Nissan has said it was not aware that it had paid for many of Ghosn's properties. On Wednesday, a spokesman said that the company was unable to comment on Ghosn's legal defense. Ghosn, in the 20-minute interview, denied that his tenure at Nissan had been a "dictatorship." "People translated strong leadership to dictator, to distort reality" for the "purpose of getting rid of me," he said. Ghosn added that his health was fine, and that he wouldn't flee if freed on bail. Meanwhile, NHK reported that Saikawa plans to hold his first face-to-face discussion with new Renault Chairman Jean-Dominique Senard on the sidelines of an alliance meeting in the Netherlands on Thursday.Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.