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Renault-Nissan goes for closer cooperation, outsells VW and Toyota

PARIS — Renault-Nissan plans to double cost savings to nearly $12 billion by 2022, partly through closer cooperation with Mitsubishi, but left key questions about the automakers' alliance unresolved. Chairman Carlos Ghosn has pledged to step up the pace of integration after Nissan took a controlling stake in Mitsubishi last year. The 18-year-old Renault-Nissan pairing has only recently begun rolling out cars on common architectures. Combined sales volumes are expected to rise to 14 million vehicles by 2022 from 10.5 million expected this year, with revenue advancing by a third to $240 billion, the alliance said at a news conference in Paris on Friday. However, any investors impatient for a new capital or management structure to speed integration and prepare Ghosn's succession were likely to be disappointed. There was "no answer from Ghosn on the possibility of a merger by 2022," Jeffries analyst Philippe Houchois noted.12 NEW ALL-ELECTRICS Ghosn has been seeking a new second-in-command, sources told Reuters in June. But such plans are linked to thornier questions about the balance of power between the two main carmakers and the French government's outsize clout as Renault's biggest shareholder, supported by double voting rights. Twelve new pure-electric models will be on the road by 2022 as Renault-Nissan seeks to defend the head-start it gained with the current generation of battery cars, spearheaded by the Nissan Leaf and Renault Zoe, as more competitors join the fray. With 5.27 million cars and vans delivered in the first half of the year, Renault-Nissan now claims the mantle of the world's biggest carmaker, ahead of Volkswagen and Toyota, even though Renault has never consolidated the sales of its 43.4 percent-owned Japanese affiliate into its own. Under existing plans, the alliance is seeking to increase synergies — from cutting costs and boosting revenue — to 5.5 billion euros next year from 5 billion recorded in 2016. SHARED PLATFORMS A fourth common vehicle platform will be shared across the alliance by 2022, the companies said on Friday, underpinning a future generation of electric cars which, together with hybrids, are expected to account for 30 percent of group sales. Renault-Nissan will aim to deliver more electric vehicles and also make greater use of shared technology and manufacturing processes.

Recharge Wrap-up: Gogoro Smartscooter debuts, Nissan Leaf drivers drive more

The West Coast Electric Highway in Oregon and Washington makes up about nine percent of the country's EV charging stations. Located along I-5, Highway 101 and other highways, Oregon offers 43 DC quick chargers, while Washington has 14. Chargers are located every 20 to 25 miles along the network, with plans to extend the Electric Highway from Canada all the way to Mexico. Between March 2012 and April 2014, drivers used public chargers 17,917 times in Washington and 18,522 times in Oregon, according to the US Energy Information Agency. Read more at Green Car Reports and at The Register-Guard. Nissan says Leaf drivers in Europe clock about 40 percent more miles on average than gasoline and diesel cars. Using the Leaf's CarWings telemetry, Nissan has found that Leaf drivers average 198 miles per week, or about 10,307 miles per year. Drivers using traditional fossil fuels only drive an average of 138 miles per week, or 7,170 miles a year. Nissan has sold more than 31,000 units of the Leaf in Europe, with more than 150,000 sold worldwide. "Our customers frequently tell us that they buy the Nissan Leaf as a second car, but end up using it far more than their other vehicle," says Jean-Pierre Diernaz, Nissan's European EV director, "and the information we receive from CarWings reinforces that message." Read more in the press release below. Gogoro's electric Smartscooter, which uses a battery swap system, debuted at the 2015 Consumer Electronics Show in Las Vegas. The Smartscooter features a racing suspension, a connected mobile app, a suite of sensors and a host of customization options. What makes the Smartscooter really interesting, though, is its battery swapping network. The 20-pound batteries are traded at small stations - essentially vending machines - in a matter of seconds, so worries about charging times are nonexistent. The battery stations could also be used by utilities for energy storage to help balance grid loads when they're not being used to power electric travel. See the Smartscooter in the video below and read more at Wired. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Renault-Nissan-Mitsubishi pool $200 million to invest in tech startups

PARIS — The Renault-Nissan-Mitsubishi alliance is setting up a $200 million mobility tech fund, three sources said, in the latest move by major carmakers to adapt to rapid industry change by investing in startups through their own venture capital arms. The fund, due to be unveiled by Chief Executive Carlos Ghosn at the CES tech industry show in Las Vegas next Tuesday, will be 40 percent financed by Renault, 40 percent by Nissan and 20 percent by Mitsubishi. "It will allow us to move faster on acquisitions ahead of our competition," one of the alliance sources told Reuters. Frederique Le Greves, a spokeswoman for the Renault-Nissan-Mitsubishi alliance, declined to comment. The traditional auto industry model based on individual ownership is threatened by pay-per-use services such as Uber, as well as ride- and car-sharing platforms, a challenge heightened by parallel shifts towards electrified and self-driving cars. Wary carmakers are struggling to embrace changes and technologies that some of their executives are only beginning to grasp. To accelerate the process, many are investing directly in the new services — and gaining access to intellectual property — via their own corporate venture capital (CVC) funds. BMW has purchased stakes in a plethora of ride-sharing, smart-charging and autonomous vehicle software firms through its 500 million euro ($600 million) iVentures fund, the biggest such in-house facility belonging to a carmaker. Among others that have been increasingly active are General Motors' GM Ventures, with $240 million, and Peugeot-maker PSA Group's 100 million-euro investment arm. CVC funds, a familiar feature of innovative sectors such as tech and pharmaceuticals, have become more commonplace among carmakers since the 2008-9 financial crisis. They let companies skip some of the formalities otherwise required for new investments, and pounce more swiftly on promising startups. The Renault-Nissan-Mitsubishi venture will also obviate the current need to thrash out the ownership split for each new alliance acquisition. It represents a further step in the integration of the carmakers as they pursue 10 billion euros in annual synergies by 2022. France's Renault holds a 43.4 percent stake in Nissan, which in turn controls Mitsubishi. Ghosn heads Renault and chairs all three.