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FCA-Renault revival may hinge on willingness to cut Nissan stake

Fiat Chrysler Automobiles and Renault are looking for ways to resuscitate their collapsed merger plan and secure the approval of the French carmaker's alliance partner Nissan, according to several sources close to the companies. Nissan is poised to urge Renault to significantly reduce its 43.4% stake in the Japanese company in return for supporting a FCA-Renault tie-up, two people with knowledge of its thinking also told Reuters. It is still far from clear whether any concerted effort to revive the complex and politically fraught deal can succeed. FCA Chairman John Elkann abruptly withdrew his $35 billion merger offer in the early hours of June 6 after the French government, Renault's biggest shareholder, blocked a vote by its board and demanded more time to win Nissan's backing. Nissan representatives had said they would abstain. The failure, which FCA and Renault blamed squarely on the French government, deprived both companies of an opportunity to create the world's third-biggest carmaker with 5 billion euros ($5.6 billion) in promised annual synergies. It also shone a harsh light on Renault's relations with Nissan, which have gone from frayed to fried since the November arrest of former alliance Chairman Carlos Ghosn, now awaiting trial in Japan on financial misconduct charges he denies. REVIVAL TALKS Italian-American FCA — whose brand stable encompasses Fiat runabouts, Jeep SUVs, RAM pickups, Alfa Romeo luxury cars and Maserati sports cars — has so far turned a deaf ear to suggestions by French officials that its merger proposal could be revisited. But since the breakdown, Elkann and his French counterpart Jean-Dominique Senard have had talks about reviving the plan that left the Renault chairman and his Chief Executive Thierry Bollore upbeat about that prospect, three alliance sources said. Renault and a spokesman for FCA declined to comment. One of Elkann's senior advisors on the Renault merger bid, Toby Myerson, was expected at Nissan headquarters in Yokohama on Monday for exploratory discussions with top management, two people with knowledge of the matter said. Nissan CEO Hiroto Saikawa is likely to attend. Myerson did not respond to a message from Reuters seeking comment. The meeting comes amid mounting strains that may preclude compromise, after Senard warned Saikawa that Renault was prepared to block key Nissan governance reforms in a dispute over board committees.

Renault, Nissan officially reboot their auto alliance for post-Ghosn era

Nissan CEO Makoto Uchida looks on as Renault CEO Luca De Meo and Mitsubishi CEO Takao Kato shake hands during a news conference to unveil new agreement between Nissan and Renault on Monday in London.   LONDON — Automakers Renault and Nissan on Monday formalized their reboot of a relationship that had grown rocky, culminating in the spectacular fall of top executive Carlos Ghosn, who had led successful turnarounds at both companies before his arrest and daring escape. The boards of both companies approved equalizing the stake each automaker holds in the other to 15%, bringing a better balance in the French-Japanese alliance, which also includes smaller Japanese carmaker Mitsubishi Motors Corp. The uneven shareholdings had been viewed at times as a source of conflict. Until now, Renault Group of France owned 43.4% of Nissan Motor Co., while the Japanese automaker owned 15% of Renault. “We have been waiting a long time for this moment,” Renault board Chairman Jean Dominique Senard said at a news conference in London, calling it a “new era." Nissan intends to invest up to 15% in Ampere, RenaultÂ’s electric vehicle and software entity in Europe that Mitsubishi also will consider investing in. The automakers said they will collaborate in markets worldwide, including Latin America, Europe and India. The moves come at a time when the extremely competitive auto industry is undergoing a major shift toward electric vehicles and other environmentally friendly models. The long speculated changes to the carmaker alliance were announced a week ago. Shares equivalent to a 28.4% stake will be transferred to a French trust, according to the companies. Renault, whose top shareholder is the French government, and Nissan agreed on an orderly sale of that stake, although there will be no deadline. Nissan Chief Executive Makoto Uchida vowed to take the alliance to “the next level of transformation” to adapt to a new era. “This is not a choice but a need,” he said. In theory, partnerships are a good way for automakers to cut costs by sharing parts, production and technology, especially when the industry is going through such dramatic change with EVs. That also means that, once formed, ending an alliance can be difficult because the companiesÂ’ development, manufacturing and products get so closely tied together. Still, partnerships can stumble because of the different corporate cultures of the automakers, especially when it involves a meeting of the West and East.

Recharge Wrap-up: EV taxis in Amsterdam, Montreal's electric carsharing goals

Amsterdam has become the electric taxi capital of the world. Taxi Electric, TCA, and Connexxion each operate electric cabs around the city, including 170 Nissan Leaf and e-NV200 taxis. Taxi Electric started with three Nissan Leafs in 2011, and the idea has caught on. Businesses are saving money on fuel and maintenance, garnering attention and new clients for themselves and doing their part to help reduce emissions and improve local air quality. The city of Amsterdam hopes to be emissions-free by 2025, and is building more and more charging stations to this end. This helps make the city the perfect home for the electric cabs. See the video above and read more from Nissan. Montreal is calling for a large electric carsharing program. Mayor Denis Coderre says that he'd like the city to be seen as a leader in electric transportation. His vision includes a carsharing program of 250 electric vehicles by next spring, growing to 1,000 EVs by 2020. This would help Montreal reach its goal of cutting the city's greenhouse gas emissions by a third over the next five years. The city also wants to build new charging infrastructure to make the carsharing plan, as well as individual EV ownership, easier to achieve. Currently, carsharing group Communauto operates a fleet of 40 EVs in Montreal. Read more at Treehugger. Enterprise Carshare has joined the nonprofit CarSharing Association. The car rental company's carsharing business made the announcement at the 2015 International Car Rental Show, during a session called "The Convergence of Car Sharing and Car Rental." "Enterprise CarShare is a well-established player in the industry and we're glad to have their help in expanding support for sustainable urban mobility in communities around the world," says CarSharing Association Executive Director Alan Woodland. Read more from Enterprise in the press release below. Enterprise CarShare Joining CarSharing Association LAS VEGAS (April 15, 2015) – Enterprise CarShare formally announced yesterday – at the 2015 International Car Rental Show – that it has joined the CarSharing Association, a not-for-profit organization committed to advancing cooperation between urban mobility providers, cities and public transit. The announcement was made during a Car Rental Show session titled, "The Convergence of Car Sharing and Car Rental," which highlighted the important role that the car rental industry plays in the evolution of urban mobility.