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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.

Thanks to a year of free charges, Nissan Leaf sees sales increase in Texas

Nissan is pretty certain that free charging offers in the two largest metropolitan areas in Texas are substantially boosting sales of the Leaf electric vehicle. Heck, one Houston car dealer says Leaf sales have tripled because of the plan, which is run by NRG through its batch of eVgo Freedom Stations. Each of these stations has a fast-charging outlet and a standard Level 2 cord where EV drivers can plug-in without breaking out the wallet. Here's how the plan works: NRG is offering a year of free charging for those who buy or lease a Leaf in either the Houston or Dallas-Fort Worth areas. NRG has 17 stations in Houston and another 23 in DFW. Nissan pays NRG a fee for employing the program, and it's apparently paying off, Nissan's Brendan Jones told Plug In Cars. The stations are located at retailers such as Walgreens and at gas-station chains. The "No Charge to Charge" program started October 1 and runs through the end of this month. The promotion may be driving sales, but let's remember that Nissan was touting a rise in Leaf sales numbers before the free charging deal went into effect. Of course, the fun does eventually end, and folks have to start paying for the juice after that first year. Two options NRG offers are a 12-month unlimited charging plan for $39.95 a month or a year of unlimited one-hour sessions at a Level 2 a cool $59.95. Californians, there's sadly no word on Nissan or NRG bringing a similar program to the Golden State. Because we know you were wondering that.

Nissan will restore Craigslist Maxima, display at headquarters [w/video]

Nissan showed that it had a great sense of humor when it bought Luke Aker's beat-up 1996 Nissan Maxima GLE for $1,400 back in December based solely on the quality of his tongue-in-cheek sales video.
Aker's Maxima had been thoroughly driven. It needed a strap to keep its hood closed, had front end damage, a missing turn signal and shredded leather seats. Of course, like Aker said in his ad, the car was still "fully loaded with an engine, wheels, tires and an automatic transmission." How could Nissan resist?
After buying the car, Nissan teamed up with MotorAuthority to decide what to do with it. The winning idea was to restore the car to its proper condition and display it at Nissan North America headquarters in Franklin, TN, with Aker's video playing nearby. According to MotorAuthority, the car has finally made it there, and its rebirth will begin soon. Nissan is not sure when the car will go on display.