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FCA-Renault revival may hinge on willingness to cut Nissan stake

Fiat Chrysler Automobiles and Renault are looking for ways to resuscitate their collapsed merger plan and secure the approval of the French carmaker's alliance partner Nissan, according to several sources close to the companies. Nissan is poised to urge Renault to significantly reduce its 43.4% stake in the Japanese company in return for supporting a FCA-Renault tie-up, two people with knowledge of its thinking also told Reuters. It is still far from clear whether any concerted effort to revive the complex and politically fraught deal can succeed. FCA Chairman John Elkann abruptly withdrew his $35 billion merger offer in the early hours of June 6 after the French government, Renault's biggest shareholder, blocked a vote by its board and demanded more time to win Nissan's backing. Nissan representatives had said they would abstain. The failure, which FCA and Renault blamed squarely on the French government, deprived both companies of an opportunity to create the world's third-biggest carmaker with 5 billion euros ($5.6 billion) in promised annual synergies. It also shone a harsh light on Renault's relations with Nissan, which have gone from frayed to fried since the November arrest of former alliance Chairman Carlos Ghosn, now awaiting trial in Japan on financial misconduct charges he denies. REVIVAL TALKS Italian-American FCA — whose brand stable encompasses Fiat runabouts, Jeep SUVs, RAM pickups, Alfa Romeo luxury cars and Maserati sports cars — has so far turned a deaf ear to suggestions by French officials that its merger proposal could be revisited. But since the breakdown, Elkann and his French counterpart Jean-Dominique Senard have had talks about reviving the plan that left the Renault chairman and his Chief Executive Thierry Bollore upbeat about that prospect, three alliance sources said. Renault and a spokesman for FCA declined to comment. One of Elkann's senior advisors on the Renault merger bid, Toby Myerson, was expected at Nissan headquarters in Yokohama on Monday for exploratory discussions with top management, two people with knowledge of the matter said. Nissan CEO Hiroto Saikawa is likely to attend. Myerson did not respond to a message from Reuters seeking comment. The meeting comes amid mounting strains that may preclude compromise, after Senard warned Saikawa that Renault was prepared to block key Nissan governance reforms in a dispute over board committees.

Hyundai Tucson Adventuremobile ready for camping at SEMA

A troop of customized 2016 Hyundai Tucsons will be making their way to the company's SEMA Show display in Las Vegas, NV, this year, and now there'll be one more in attendance, too. Joining hardcore offroad and high-horsepower takes on the crossover is the Adventuremobile from tuner John Pangilinan for those that love the outdoors but still need a vehicle to commute to work during the week. The Adventuremobile has everything for a camping excursion. There's no worry about where to rest in the wilderness thanks to a roof-mounted tent that sleeps two, and solar panels keep electronics topped up. An LED light bar should mean no problems finding the perfect spot, either. Even the cabin is a comfy place for a drive to the campsite with an upgraded stereo and Katzkin leather upholstery. The crossover looks rugged thanks to a coat of army green paint, but this tuned Tucson keeps the rest of the mods fairly realistic for the average adventurer. For a little added ability offroad, there's a 1.5-inch suspension lift and Toyo Open Country A/T II tires on some Rays wheels. The powertrain also gets some small tweaks with some new plumbing by AEM and a Magnaflow exhaust. The whole package seems like a great tool for spending a weekend in the woods. JOHN PANGILINAN CREATES TUCSON ADVENTUREMOBILE FOR SEMA FOUNTAIN VALLEY, Calif., Oct. 19, 2015 – John Pangilinan, the renowned Southern California tuner known for creating vehicles that blur the lines between lifestyle and automotive, has released details on his 2016 Tucson SEMA build. Dubbed the "Adventuremobile," the vehicle blends Hyundai's new crossover platform with a passion for the great outdoors, perfect for the weekend getaway. The car will be revealed at Hyundai's SEMA press conference on November 3 at 11:30 a.m. PT, in Las Vegas. The "Adventuremobile" is just as home on the daily commute as it is lugging gear up into the mountains for the weekend out of town. Most obvious is the addition of a Treeline Tamarack roof-top tent, with ample room to sleep two campers, and Goal Zero solar panels to power all of their accessories. The exterior has been beefed up with the addition of an Aries bull bar and side steps, Rigid Industries LED lights, and the vehicle has been finished in a BASF army green paint scheme by Strasse Sport. A custom 1.5-in.

Nissan ex-chief Carlos Ghosn cancels hastily arranged Tokyo press conference

TOKYO — Former Nissan boss Carlos Ghosn on Friday abruptly canceled plans for what would have been his first press conference since his arrest in November, after journalists had been notified about a briefing just two hours earlier. Ghosn's lawyers called to cancel the event that was to be held at the Foreign Correspondents' Club of Japan (FCCJ), but did not immediately give a reason for the abrupt change, an official at the FCCJ told Reuters.Automotive News cited a source as saying his family and media team staged a "last-minute intervention" to get him to call off plans to make his case at the press conference, fearing he would be faced with questions he couldn't answer without tipping his legal team's strategy, or that Japanese prosecutors would take a dim view of him publicly criticizing their actions and attempt to revoke his bail. A spokesman for the Ghosn family in Tokyo did not answer his mobile phone and did not immediately respond to an emailed request for comment. If the conference had not been canceled, Ghosn would have spoken as Japanese Prime Minister Shinzo Abe hosts national leaders at the G20 leaders gathering in Osaka, including U.S. President Donald Trump and French President Emmanuel Macron, who Ghosn's wife Carole have called on to raise the issue of her husband's treatment by Japan's courts. In May a Japanese court dismissed an appeal by Ghosn to ease a bail restriction that bans him from contacting his wife and rejected a subsequent request to allow him a one-off monitored meeting with Carole. His lawyers have argued that that condition violates Japan's constitution and international law on family separations. Ghosn's movements are also monitored and he is only allowed internet access from a computer at his lawyer's office that records the activity for the court. Once among the world's most feted auto executives, Ghosn is awaiting trial in Japan over charges including enriching himself at a cost of $5 million to Nissan, in a scandal which has rocked the industry and exposed tensions in the automaking partnership between Nissan and Renault SA. Since his initial arrest in November last year, Ghosn has been charged four times for crimes which also include underreporting his Nissan salary and temporarily transferring personal financial losses to his employer's books during his time at the helm of Japan's No. 2 automaker.