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France could reduce its Renault stake to solidify partnership with Nissan

French Finance Minister Bruno Le Maire said France is ready to cut its stake in Renault in order to consolidate Renault's partnership with Nissan, Agence France Press (AFP) reports. Le Maire said Paris, which has a 15% stake in Renault, might consider reducing its stake, if it led to a "more solid" alliance between the Japanese and French firms, the French news agency reported, citing an interview with the minister. "We can reduce the state's stake in Renault's capital. This is not a problem as long as, at the end of the process, we have a more solid auto sector and a more solid alliance between the two great car manufacturers Nissan and Renault," he told AFP. Le Maire had earlier said the French government was open to tie-ups involving Renault as long as French industrial interests were protected, and would consider any Renault deal with Fiat Chrysler that respected the French firm's alliance with its Japanese partner Nissan. Fiat on Thursday abandoned its $35 billion merger offer for Renault, blaming French politics for scuttling what would have been a landmark deal to create the world's third-biggest automaker behind Japan's Toyota and Germany's Volkswagen. The French government had welcomed the merger plan, but overplayed its hand by pushing for a series of guarantees and concessions that eventually exhausted the patience of FCA, sources told Reuters. Renault and Nissan were not immediately available to respond to a request seeking comment. (Reporting by Mekhla Raina in Bengaluru; editing by Richard Pullin and Elaine Hardcastle)

Recharge Wrap-up: Nissan Leaf in Puerto Rico, BMW i3 REx tax-free in NJ, BC2BC cancelled [UPDATE]

*UPDATE: Nissan has released a video of the Leaf in Puerto Rico, so we've embedded it below. Envia Systems will develop battery technology for United States Advanced Battery Consortium (USABC), a subsidiary of the United States Council for Automotive Research (USCAR). The $7.7 million contract, co-funded by the US Department of Energy (DOE), involves a 36-month development program focusing on high-energy cathode and anode material for lithium-ion batteries and pouch cells for electric vehicles. The goal, of course, is to create better energy storage for less money in an effort to make commercial EVs more efficient and affordable. For the DOE, this also equates to energy security, energy independence and national security. Read more in the press release at the bottom of the page. The US and China have agreed to work together more closely on EVs, energy and climate issues. US Secretary of Energy Ernest Moniz went to Beijing for the sixth US-China Strategic and Economic Dialogue to meet with leaders. While there, Moniz and Wu Xinxiong of China's National Energy Administration (NEA) signed a memorandum of understanding allowing the DOE and NEA to share information regarding oil reserves. The groups will meet yearly to learn more about how each other manages petroleum stockpiles and policy. Moniz also met with Minister Miao Wei of the Chinese Ministry of Industry and Information Technology and signed an MOU to cooperate on electric vehicles and "related technologies," including the "inter-operability of electric vehicles." Read more at the Energy Department website. August's BC2BC all-electric vehicle rally, billed as the largest gathering of electric vehicles, has been cancelled. The event, which was to include a drive up the entire coast from Mexico to British Columbia with smaller events along the route, failed to bring in the needed sponsorship to hold the rally for its third year. A Facebook post from organizer Tony Williams also cited loss of venue and lack of support from automakers - "particularly Nissan and Tesla" - as hardships. The event was scheduled to take place August 9 through 17, with only battery electric vehicles invited to take part - no plug-in hybrids or range-extended vehicles. Williams said he'd only try a similar event in the future if sponsorship were provided up front. Read more at Green Car Reports. The Nissan Leaf will finally go on sale in Puerto Rico.

Renault-Nissan to build EVs in China with Dongfeng

BEIJING — Nissan and its partner Renault will build electric cars in China in a new venture with Dongfeng Motor, as global automakers scramble to get ready for stringent electric vehicle quotas being introduced by the nation. China, the world's biggest auto market, wants all-electric battery cars and plug-in hybrid vehicles to make up at least a fifth of the country's auto sales by 2025, as part of its solution to tackle alarming pollution levels in major cities. Ford announced earlier this month it was exploring setting up a joint venture with car maker Anhui Zotye Automobile Co to build electric vehicles in China under a new brand. Tesla, Daimler, Volkswagen and General Motors have already announced plans for making electric vehicles in China, The new joint venture, called eGT New Energy Automotive Co, will be owned 25 percent each by Nissan and Renault with Dongfeng owning 50 percent, Nissan and Renault said in a statement on Tuesday. They said eGT will design a new electric vehicle on a subcompact crossover SUV platform of the Renault-Nissan alliance. "The establishment of the new joint venture with Dongfeng confirms our common commitment to develop competitive electric vehicles for the Chinese market," Carlos Ghosn, chairman and chief executive officer of the Renault-Nissan alliance, said in the statement. The statement did not give details of financial commitments of the joint venture partners or say by when the vehicles will be launched. Dongfeng already partners Nissan in China. Both Nissan and Renault already market electric cars. Nissan's Leaf compact hatchback has become the world's top-selling electric car since its launch in 2010, while Renault began selling its Zoe model in 2012. The game changer for global automakers, many of whom until recently have resisted an industry shift to heavily electrified vehicles, is China, an auto market with strong potential for growth where stringent policies favoring cleaner energy cars are being aggressively pursued. Under China's latest proposals, electric vehicle sales quotas, which are expected to take effect as early as 2018, are due to require 8 percent of automakers' sales to be battery electric or plug-in hybrid vehicles by next year, rising to 10 percent in 2019 and 12 percent in 2020.