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Renault to propose joint holding company with Nissan, Nikkei reports

TOKYO — Renault SA will propose to Nissan Motor Co a plan to create a joint holding company that would give both firms equal footing as the French automaker seeks further integration with its Japanese partner, the Nikkei newspaper reported on Friday. Under the proposal, both firms would nominate a nearly equal number of directors to the new company in which ordinary shares in both Nissan and Renault would be transferred on a balanced basis, the newspaper said, without citing sources. This would effectively dilute the stake held by the French government in Renault to around 7-8 percent, from its current 15 percent, it added. The new company would be headquartered in a third country, such as Singapore. Renault plans to make the proposal to Nissan soon, the Nikkei said, having modified an earlier merger idea that Nissan rejected on April 12. Nissan declined to comment on the issue. The Financial Times newspaper reported that both Nissan and the Japanese government have refused to engage in merger talks with Renault. The report of the proposal comes as the outlook for the alliance — one of the world's top automaking partnerships — has clouded since the arrest in November of its main architect, Carlos Ghosn, for suspected financial misconduct. It also comes as Nissan's financial performance struggles following years of focusing on volume sales over building its brand, particularly in the United States, its biggest market. Nissan slashes its forecast This week, the Japanese automaker slashed its profit forecast for the year just ended to its lowest in nearly a decade, citing weakness in its U.S. operations. Renault for years has been vying for a closer merger with Nissan, which it rescued from the brink of bankruptcy two decades ago. Ghosn had been working to achieve a deeper integration before his arrest on financial misconduct charges in November last year. While the automakers have been consolidating many of their operations over the past decade, including procurement and production, many executives at Nissan have opposed an all-out merger with Renault. Instead, Nissan has argued for a more equal footing with Renault, which holds a 43 percent stake in its bigger partner. Nissan holds a 15 percent stake in Renault. It was unclear whether Renault would hold the casting vote in major decisions at the new company, as it did in Renault-Nissan B.V., a strategic management company jointly held by both companies that oversaw operations for the partnership.

2014 Nissan Serena offers big flexibility in a tidy package

In America, Nissan attempts to slake our kinschlepping needs with its slow-selling Quest minivan, but in Japan, where consumers seem a lot less reluctant to buy MPVs, there are a lot more models for every size family and budget. Nissan itself offers no fewer than six such minivans, including the popular Serena seen here.
Technically a mid-cycle facelift, this new Serena continues to offer seating for up to eight people with a gas-only or mild hybrid driveline delivering power to either the front or all four wheels. This Tokyo Motor Show reveal takes that familiar package and lends it a freshened look, complete with a revamped front fascia with less chrome frosting, optional LED headlamps, new LED taillamps and new alloy wheel patterns. In addition, the Serena receives new active safety technology, including lane departure warning systems, Around View Monitor with Moving Option Detection, Driver Attention Alert, and so on.
With only a 2.0-liter four-cylinder engine paired with a continuously variable transmission, you might expect the Serena to be smaller than today's American minivans, and you'd be right - it's roughly the size of a short-wheelbase Gen III Dodge Caravan, making its seating capacity particularly impressive. Said another way, the Serena is likely to stay forbidden fruit, but that doesn't mean you can't enjoy it in our gallery.

GT-R driver walks away from terrifying dragstrip accident

With all-wheel drive, launch control and a dual-clutch transmission, the Nissan GT-R may be easier to manage than most supercars. But that doesn't mean that dragging one on a wet strip is a good idea.
Filmed at the Unlimited 500+ drag race in Moscow, Russia, this video depicts a pair of GT-Rs going head to head. But things didn't go quite as planned when the driver of one lost control of her twin-turbo supercar. We'll let the video below speak for itself, but thankfully it appears no one was hurt - an outcome that seems particularly remarkable in light of the fact that it appears that the driver was not wearing a fire suit or helmet.