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Automakers Renault, Nissan will become equals, with equal stakes in each other

TOKYO — Nissan and Renault have agreed to equalize the stakes they hold in each other, both sides said Monday, ironing out a source of conflict in the Japan-French auto alliance. Up to now, Renault Group has held a 43.4% stake in Nissan Motor Co., potentially giving it a larger say in how the Japanese automaker is run. It will transfer shares equivalent to a 28.4% stake to a French trust so each side will hold the same 15% stake in the other, according to the companies. The disparity between the holdings was a cause of friction, especially after Nissan became far more profitable than Renault. The agreement on the change is still being finalized and needs board approval from both companies. The companies said the shares in the French trust can eventually be sold but did not say to whom or how. They said the sale will be carried out in a “coordinated and orderly process” if a deal makes commercial sense to Renault Group, and that there is no time deadline. Until then, the voting rights would be “neutralized” for most managerial decisions, but the economic rights, such as dividends, will continue to go to Renault, the companies said. The top shareholder in Renault is the French government. Japanese Prime Minister Fumio Kishida met with French President Emmanuel Macron earlier this month. The alliance has had its ups and downs since it began in 1999, when Renault sent one of its executives, Carlos Ghosn, to then-struggling Nissan to lead a turnaround. Ghosn first served as Nissan's chief executive and later its chairman before he was arrested in late 2018 on various financial misconduct charges. The alliance, which also includes smaller Japanese automaker Mitsubishi Motor Corp. and remains one of the world's top auto groups, has been eager to put the Ghosn scandal behind it. Allegations against Ghosn include underreporting income, using investment funds for personal gain and illicit use of company expenses, including overseas homes and a yacht. Ghosn said he is innocent of all charges. He jumped bail in late 2019 and is now in Lebanon, which has no extradition treaty with Japan. The equalization of the crossholdings has been speculated about for some time. The companies called the move “an important milestone.” “The ambition is to strengthen the ties of the alliance and maximize value creation for all stakeholders,” said Nissan, based in the port city of Yokohama.

BMW, Nissan eye Formula E entry

BMW has been involved with the all-electric Formula E racing series since the beginning. It provides the safety car in the form of the eye-catching i8, with the i3 performing medical car duties. BMW's i division even sponsored the 2016 Berlin ePrix. Nissan has also been involved with Formula E – though more tangentially so – as its French partner Renault has provided the car each team used for the first season, and sponsors its own team as well (which won the Teams' Championship both seasons so far). Now that more automakers are joining the field (notably including Jaguar's return to open-wheel racing), BMW and Nissan are reportedly considering getting in the mix to try to win some races, too. Multiple sources tell Autosport that both automakers are looking into being on the grid as early as the 2016/2017 season. Since the series already has its ten teams confirmed for the third season, Nissan and BMW would have to join an existing team for the time being, which is what Autosport's sources are saying is being discussed. Nissan refers to its consideration as a "fact-finding" mission. BMW had said earlier that it wouldn't compete as long as mid-race car swaps were part of the practice. Formula E is looking to move toward a single car format as early as the 2018/2019 season, which could make BMW's direct involvement more palatable to the automaker. As for Nissan, it would have to garner approval from the Renault-Nissan Alliance to compete against its sister company in the same racing category. Either way, it's unlikely that either manufacturer would be able to provide powertrain technology should they join teams for the upcoming season. Still, both Nissan and BMW have made strong commitments to consumer electric vehicles. To be directly involved in the competition would not only be a great way to showcase their prowess in the world of electric motoring, it could also help to bring more attention to Formula E. Related Video: Related Gallery Jaguar Formula E News Source: Autosport via Inside EVsImage Credit: Formula E Green Motorsports BMW Nissan Green Automakers Electric Racing Vehicles Formula E electric racing

Daimler consulting with Ford about 3-cylinder engines

Soon enough, Ford will offer its 1.0-liter EcoBoost three-cylinder engine under the hood of the Fiesta here in the United States, building on the success of the small powerplant overseas. In fact, this success has caused other automakers to take notice, and according to Automotive News Europe, Daimler is now talking to Ford about this engine for use in its own products.
In other markets, Ford offers the 1.0-liter mill under the hood of the Focus (we had the chance to sample this package on our home turf), as well as the B-Max MPV. For this new collaboration, Daimler would use the turbo-three in the next-generation Smart ForTwo, as well as the Renault Twingo, which the German automaker will be collaborating on as part of its alliance with Renault-Nissan. Speaking to AN, a Mercedes-Benz engineer called the 1.0-liter mill an "interesting and impressive engine."
In exchange for details about the EcoBoost inline-three, Daimler will supply Ford with information regarding its Euro6 stratified lean-burn gasoline engine, which is found in the new E-Class sedan.