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Renault shares hit six-year low on rumors of Nissan split

LONDON — Renault shares hit six-year lows on Monday after a media report that Nissan has accelerated secret contingency planning for a potential split from the French carmaker, the latest sign that the downfall of former boss Carlos Ghosn is roiling the 20-year alliance. At 1027 GMT, the shares were down 3.7%, languishing at the bottom of Paris' CAC 40 and the pan European STOXX 600 index. The plans include war-gaming a total split in engineering and manufacturing, as well as changes to Nissan's board, the Financial Times newspaper reported on Sunday citing several sources. Nissan's contingency planning has ramped up since the dramatic escape of Ghosn, the former head of the Renault-Nissan  alliance, from Japan in late December, it said. The tie-up has been in management turmoil since Ghosn's arrest in Tokyo in November 2018 on allegations of financial misconduct, which he denies. He was awaiting trial in Japan when he fled to Lebanon. "We firmly believe the relationship between (Renault and Nissan) and hence the Alliance is broken and is likely beyond the point of repair," Evercore ISI analysts Arndt Elinghorst and Chris McNally wrote in a note on Monday. They have an 'underperform' rating on the French car company. Renault was not available for immediate comment. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Earnings/Financials Mitsubishi Nissan Renault

Nissan, Honda and Mitsubishi will share EV components and AI research

TOKYO — Japanese automakers Nissan and Honda say they plan to share components for electric vehicles like batteries and jointly research software for autonomous driving. A third Japanese manufacturer, Mitsubishi Motors Corp., has joined the Nissan-Honda partnership, sharing the view that speed and size are crucial in responding to dramatic changes in the auto industry centered around electrification. A preliminary agreement between Nissan Motor Co. and Honda Motor Co. was announced in March. After 100 days of talks, executives of the companies evinced a sense of urgency. Japanese automakers dominated the era of gasoline engines in recent decades but have fallen behind formidable new players in green cars like Tesla of the U.S. and ChinaÂ’s BYD. “Companies that donÂ’t adapt to the changes cannot survive,” said Honda Chief Executive Toshihiro Mibe. “If we try to do everything on our own, we cannot catch up.” Nissan and Honda will use the same batteries and adopt the same specifications for motors and inverters for EV axles, they said. By coming together in what Mibe and counterpart at Nissan, Makoto Uchida, repeatedly called “making friends” to achieve economies of scale, the companies plan more strategic investments in technology and aim to cut costs by boosting volume. Each company will continue to produce and offer its own model offerings. But they will share resources in areas like components and software development, where “making friends” will be a plus, Mibe and Uchida told reporters. They declined to say whether the friendship will extend to a mutual capital ownership, while noting that wasnÂ’t ruled out. The two companies also agreed to have their model lineups “mutually complement” each other in various global markets, including both internal combustion engine vehicles and EVs. Details on that are being worked out, the companies said. Honda and Nissan will also work together on energy services in Japan. Under ThursdayÂ’s announcements, Mitsubishi will join as a third member. Toyota Motor Corp., JapanÂ’s top automaker, is not part of the three-way collaboration. Although Honda and Nissan have very different corporate cultures, it became clear, as their discussions on working together continued, their engineers and other workers on the ground have a lot in common, Uchida said. “Speed is the most crucial element, considering our size,” he added.

Man sells testicle to buy Nissan 370Z

We aren't entirely sure what's stranger about this story - that a man actually sold a vital piece of his manhood for a car, or that he did it for a Nissan 370Z. That's not to discredit the trusty Fairlady, a car we generally like, but that if we were to do what Mark Parisi did and sell one of his testicles to science, we'd be asking for a helluva lot more than $35,000.
But Parisi did just that, and announced live on CBS' The Doctors (we really can't make this up) that the sale of his nut would go towards the purchase of a Z. According to our friends Down Under (Australia, get your mind out of the gutter), $35K is the going rate for one slightly used testicle, so if you get nothing else from this story, gentlemen, know that you have $70,000 swinging between your legs.