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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.

Federal prosecutor fights bail for men accused of helping Carlos Ghosn escape

BOSTON — A U.S. prosecutor on Monday urged a judge to keep a former Green Beret and his son locked up as Japan prepares to formally seek their extradition on charges that they helped former Nissan boss Carlos Ghosn flee the East Asian country. Assistant U.S. Attorney Stephen Hassink argued during a virtual hearing that Michael Taylor and his son, Peter Taylor, have a "clear and present reason to flee" after being accused of helping Ghosn, who faces financial misconduct charges in Japan. "They're actually some of the best defendants that IÂ’m sure this court has seen positioned to actually succeed in that flight," Hassink said. He argued the men, who have been held without bail since being arrested in Massachusetts last month, helped smuggle Ghosn out of Japan in a box on Dec. 29, 2019. Ghosn then allegedly fled to Lebanon, his childhood home, which has no extradition treaty with Japan. Ghosn, Nissan's former chief executive, was charged with engaging in financial wrongdoing by understating his compensation in Nissan's financial statements. He denies wrongdoing. The Taylors' lawyers countered that had they wished to avoid prosecution they could have remained in Lebanon, where they were in January when Japan said it would seek their arrest, rather than return to Massachusetts. "If he's an expert of escape, he would not have returned to the United States," Robert Sheketoff, a lawyer for Michael Taylor, argued. He and other defense lawyers argued the case against their clients was flawed and that Michael Taylor, a U.S. Army Special Forces veteran and private security specialist, is at heightened risk of complications from COVID-19, which could spread in the jail. The hearing itself was held through a Zoom videoconference because of the coronavirus pandemic. U.S. Magistrate Judge Donald Cabell said he hoped to rule "as quickly as I can." Related Video:

Jeep Wrangler 4xe, new Honda Civic and EV infrastructure | Autoblog Podcast #677

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor, Green, John Beltz Snyder and Yahoo Finance Senior Producer/Reporter Pras Subramanian. They start things off by talking about what they've been driving, including the Jeep Wrangler 4xe, Chevy Bolt EUV, Nissan 370Z Nismo and Mitsubishi Eclipse Cross. They discuss the reveal of the next-generation Honda Civic, opine about the Mercedes-AMG One hybrid supercar, talk about EV charging infrastructure and reminisce about the Hyundai Genesis Coupe. Finally, they reach into the mailbag to help a listener pick a used grand tourer. Autoblog Podcast #677 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving:2021 Jeep Wrangler 4xe 2022 Chevrolet Bolt EUV 2020 Nissan 370Z Nismo 2022 Mitsubishi Eclipse Cross News 2022 Honda Civic revealed Mercedes-AMG One spy photos Green infrastructure Why the gas stations of the future might not include EV chargers — yet Ultium Charge 360 Used Vehicle Spotlight: 2010-2016 Hyundai Genesis Coupe  Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related Video: