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Nissan, Renault in talks to merge as one company

Nissan and Renault have been tied together as an alliance for nearly 20 years, but now the Japanese and French automakers are discussing whether to merge. Bloomberg, citing unidentified sources familiar with the confidential talks, reports that the idea is to form a larger, single publicly traded company to better compete against giants like Toyota and Volkswagen. It would also mark the end of the alliance that first began in 1999 and also includes Mitsubishi, in which Nissan acquired a controlling interest in 2016. A full merger would help the companies pool resources to develop electric vehicles, autonomous vehicles and car-sharing services. It would involve Nissan giving Renault shareholders stock in the new company, with Nissan shareholders also gaining shares in the new company, Bloomberg reports. The new company would be run by Carlos Ghosn, the current chairman of both companies. But any such merger, as you might expect, would be complicated, in part by geopolitics. The French government owns a 15-percent stake in Renault, and both the French and Japanese governments might be reluctant to let go of their respective home-grown brands. Currently, Renault owns a 43-percent stake in Nissan, while Nissan owns 15 percent of its French partner. Reuters reported recently that Ghosn proposed buying most of the French government's stake in Renault as part of plans for a closer tie-up. The Renault-Nissan-Mitsubishi alliance already has been working to establish a $200 million mobility tech fund to invest in startups, a reflection of how seismic changes in the auto industry have left many legacy companies scrambling to stay current. Nissan in 2016 paid a reported $2.3 billion to acquire 34 percent of Mitsubishi in order to share platforms, technology, manufacturing and other resources. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Image Credit: Patrick T. Fallon/Bloomberg Earnings/Financials Government/Legal Green Mitsubishi Nissan Renault car sharing merger

Renault names new leaders as jailed Carlos Ghosn bows out

PARIS — Renault appointed Michelin boss Jean-Dominique Senard as its new chairman on Thursday, after Carlos Ghosn was forced to resign in the wake of a financial scandal that has rocked the French carmaker and its alliance with Japan's Nissan. Senard will become chairman immediately, the company said, with deputy chief executive Thierry Bollore taking over Ghosn's other Renault role as full CEO. The appointments may begin to ease a Renault-Nissan leadership crisis that erupted after Ghosn's Nov. 19 arrest in Japan and swift dismissal as Nissan chairman. Senard, 65, now faces the task of soothing relations with Renault's Japanese partner and resuming talks on a new alliance structure to cement the 20-year-old partnership. "It's important that this alliance remain extremely strong," Senard told reporters after a board meeting - citing the mounting investment demands of new vehicle technologies. "It is our compulsory duty to go forward together." Ghosn's exit also marks a clear end to one of the auto industry's most feted careers, two decades after he was despatched by former Renault boss Louis Schweitzer to rescue newly acquired Nissan from near-bankruptcy — a feat he pulled off in two years. After 14 years as Renault CEO and a decade as chairman, Ghosn formally resigned from both roles on the eve of the board meeting. Ghosn's arrest and indictment for financial misconduct has strained the Renault-Nissan relationship, threatening the future of the industrial partnership he transformed into a global carmaking giant over two decades. For two months, the tensions deepened as Renault and the French government stuck by Ghosn despite the revelation he had arranged to be paid tens of millions of dollars in additional income, unbeknownst to shareholders. Ghosn has been charged with failing to disclose more than $80 million in additional compensation for 2010-18 that he had agreed to be paid later. Nissan director Greg Kelly and the Japanese company itself have also been indicted. Both men deny the deferred pay was illegal or required disclosure, while not contesting the agreements' existence. Ghosn has denied a separate breach of trust charge over personal investment losses he temporarily transferred to Nissan in 2008. Ghosn had agreed in recent days to step down from Renault, Reuters reported on Tuesday — but only after the French government, Renault's biggest shareholder, called for leadership change and his bail requests were rejected.

2019 Mitsubishi Outlander Sport Review and Buying Guide | Long in the tooth

The 2019 Mitsubishi Outlander Sport subcompact crossover may seem like the right type of car for the times, but it falls short in its execution. Brand new tiny crossovers have been popping up left and right from other manufacturers, but the Outlander Sport feels like it's stuck in the past. If we're looking at it with the glass of water half full, the exterior styling sets itself apart from the rest of the homogeneous little ones out there. It's taut, angular, a little muscular and has some great looking wheel options. Unfortunately, that expressive exterior styling isn't carried over inside. Even in its most expensive form, the entire interior is a black plastic paradise. Powertrain options are a mixed bag with a lot more choices than most other subcompacts provide. What's new for 2019? Not much is new for the 2019 model year. SE trim models now have more standard safety equipment, including blind-spot and rear cross-traffic warning. The highest-priced GT trim adds forward collision mitigation, lane departure warning and automatic brights. This Outlander Sport belongs to the first-generation model, which debuted for the 2011 model year. What's the interior and in-car technology like? It's difficult to find a more drab and boring interior in a new car today than the Outlander Sport's. Even all the trim and contrasting accents are made of plastic that's hard and unpleasant to touch. Mitsubishi inexplicably put glossy plastic along the inner rim of the steering wheel in the GT model we drove, and it's terrible to hold for longer periods of time. One neat touch is the big "4WD" button sitting in front of the shifter to turn on all-wheel drive. Mitsubishi takes great all-wheel drive seriously (RIP the Evo) so it's nice to see some recognition of the brand's heritage. One other sporting touch found on the GT is the suede inserts on the seats that looked good and make sure you don't slide around. One thing this crossover has going for it is the tech update it received for the 2018 model year. A 7-inch touchscreen that supports Apple CarPlay and Android Auto is included on the higher trims. Other features like heated seats and an auto-dimming mirror are available, but this is not a high-tech car by any means. How big is it? The Mitsubishi Outlander Sport is on the bigger side of subcompact crossovers at 171.9 inches in length.