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For next Nissan CEO, priority is profit before Renault partnership

The next head of Nissan Motor Co will need to prioritize a recovery in profits at the troubled Japanese firm ahead of trying to fix its relationship with top shareholder Renault SA, executives and analysts say. Reviving earnings would strengthen the carmaker’s hand in negotiations with its French partner, and is something Renault itself would welcome as the owner of a 43.4% stake in Nissan. JapanÂ’s second-largest automaker said on Monday CEO Hiroto Saikawa would step down on Sept. 16 after he admitted to being overpaid in breach of company rules. ItÂ’s another heavy blow for Nissan, which is already reeling from the arrest of former chairman Carlos Ghosn last year and a subsequent plunge in earnings. Its stock is down 20% this year. For SaikawaÂ’s yet-to-be-named replacement, the top priority will be lifting profits from a more than decade low. Earnings have been undercut by years of heavy discounts and low-margin sales to rental firms that have cheapened NissanÂ’s brand image. Renault, which has unsuccessfully sought a full-blown merger with its larger partner, is likely to give the Japanese firm time to focus on its turnaround, a Nissan executive said. “It goes without saying recovery is the biggest priority,” the executive said, declining to be identified because the information is not public. “We have RenaultÂ’s understanding on that.” Tensions in the Nissan-Renault partnership worsened after GhosnÂ’s arrest. He is awaiting trial in Tokyo on financial misconduct charges that he denies. The strain has sparked investor concern about the future of the Franco-Japanese automaking alliance at a time when car companies desperately need scale to keep up with sweeping technological changes like electric vehicles and ride-hailing. Nissan executives have long complained about their unequal partnership with Renault, which saved the Japanese firm from bankruptcy in 1999. Nissan holds a 15% stake in Renault, but without voting rights. Tokyo is also seen as being uneasy about the French governmentÂ’s 15% holding in Renault, which makes Paris an indirect shareholder in Nissan. “Profitability is likely to remain under pressure and it (Nissan) is unlikely to promptly reach an agreement with Renault over the future shape of the alliance,” analysts at Standard & PoorÂ’s said in a note. Tensions worsened when Renault tried to in vain to merge with Nissan and then Fiat Chrysler.

Driving an EV cross-country, planting trees in all 48 states

National Drive Electric Week kicks off on September 12, but Brian Kent is starting his celebration early in an incredibly green way. On August 24, he sets off in his Nissan Leaf from Albion, NY, on an odyssey to visit the 48 contiguous US states and plant a tree in each one. Along the way, he's stopping off for the EV festival's party in Jeffersontown, KY. Kent calls the 26,000-mile drive the Negative Carbon US Road Trip because in 40 years those 48 trees should trap about 10 times more CO2 than his Leaf produces on the journey. He's sponsored by Kampgrounds of America, and this modern Johnny Appleseed is sowing the plants at some of its 485 sites around North America. National Drive Electric Week currently has 146 events scheduled for this year, including several in Canada and one in Hong Kong. The annual celebration aims to get people interested in plug-in vehicles. One of the gatherings last year even had the world's largest ever parade of EVs, but the record was unofficially broken in Berlin this spring. Will we get a new record next month? Just in Time for National Drive Electric Week: A Cross-Country Trip to Raise Awareness of Plug-In Vehicles Brian Kent will log 26,000 miles in his electric car, planting one tree in 48 states along the way San Francisco, Calif., Aug. 18, 2015—Brian Kent, set to embark upon a cross-country trek in his electric car on Aug. 24, will participate in National Drive Electric Week by routing his 48-state, gasoline-free tour through the EV celebration's event in Jeffersontown, KY. Kent plans to launch his 26,000-mile journey from his home in Albion, NY, charging his Nissan LEAF in city centers and campgrounds alike and planting a tree in each state for his first annual Negative Carbon U.S. Road Trip. He will blog along the way. Volunteers and other plug-in vehicle supporters in more than 130 cities from Hilo, HI to South Portland, ME will stage ride-and-drives and related activities during National Drive Electric Week, Sept. 12-20, for the same reason that Kent is hitting the road: to raise awareness of plug-ins. "My goals are consistent with those of National Drive Electric Week," said the freelance writer. "Misperceptions are rife.

Japanese automakers welcome North American trade deal, fear what's next

TOKYO — Toyota, Nissan and Mazda welcomed on Tuesday the revised North America trade deal that left Japanese automakers unscathed, but they may face a bumpy ride when Washington and Tokyo hold new talks on over $40 billion of annual U.S. auto imports from Japan. The United States and Canada reached an agreement on Sunday to update the 1994 North American Free Trade Agreement after Washington had forged a separate trade deal with Mexico in August. The updated deal effectively maintains the auto industry's current footprint in North America, and spares Canada and Mexico from the prospect of U.S. national security tariffs on their vehicles. Mazda, which ships cars to the United States from Mexico and Japan, called the deal a "big step forward". Nissan, which makes the cars it sells in the United States locally as well as in Mexico, Japan and other countries, said it was "encouraged" by the agreement. Toyota, Japan's biggest automaker, said it was "pleased" that a basic deal was reached. Other automakers were not immediately available for comment. While the deal has removed the risk that the disintegration of the pact would have posed to automakers, bigger risks loom large for Japanese firms as a chunk of the roughly 7 million cars they sold in the U.S. last year were shipped from Japan, and a trade deal between Washington and Tokyo has yet to be agreed. The United States and Japan last week agreed to begin fresh trade talks, with U.S. President Donald Trump seeking to address Japan's $69 billion trade surplus, of which nearly two-thirds comes from auto exports. Washington is also investigating the possibility of slapping 25 percent tariffs on auto imports on national security grounds, although it has agreed with Japan to put any new tariffs on hold during the talks. Analysts say the United States may take a tougher stance on auto imports from Japan than from its neighbors. "If Japan requests an exemption from the 25 percent tariffs under consideration, Washington could propose a more strict cap on imports than it agreed to with Mexico and Canada," said Koji Endo, senior analyst at SBI Securities. "That would be a risk." This could be a big blow to Japan, as the United States is a key source of revenue for Japanese automakers including Toyota, Nissan and Honda. The U.S. market accounts for a quarter or more of their annual global vehicle sales, and of their total U.S.