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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.

Mitsubishi could use Lancer Sportback name on its version of the Nissan Leaf

Various reports might help with filling in some of the blanks in Mitsubishi's Momentum 2030 plan. That's the automaker's new initiative we heard about last month that Mitsubishi North America President and CEO Mark Chaffin said is "setting the stage for new powertrains and vehicles being introduced, new dealerships being opened, and new technologies being developed to make the shopping and ownership experience faster, easier and more enjoyable." The first hints of new product suggested a rugged plug-in hybrid van, something else in the Subaru Outback segment, and perhaps an electric pickup. And after Renault-Nissan-Mitsubishi alliance partner Nissan introduces a new-generation Leaf EV for the 2026 model year, Mitsubishi's supposed to get the Leaf for its own use. Based on a recent trademark renewal, Australian outlet Which Car? via Car and Driver suspects this EV (highlighted in the image above) could be called Lancer Sportback.  Car and Driver caught the fact that Mitsubishi renewed a trademark application for the name Lancer Sportback at the U.S. Patent and Trademark Office on March 12 of this year. And speaking of Lancers, the Japanese automaker applied to trademark Lancer Evolution on August 8 last year. The USPTO refused the registration, Mitsubishi filed an appeal that's still under consideration.    Which Car? doesn't say why it believes Mitsu might apply the Lancer (requested in 2020) or Lancer Sportback name to its little EV, but notes that the automaker's been reusing names around the world of late, such as Airtrek, Colt, Eclipse, and Eclipse Cross. There's more where that came from for us, C/D also tabbing Mitsubishi's trademark application for the name Montero, submitted last August and approved in February. That 4x4 launched as the Pajero in 1981 and sold in the U.S. as the Montero (and the Dodge Raider). The carmaker hasn't sold a Montero here since 2006, and ended Pajero production in 2021. A new model called the Pajero Sport filled the gap in the lineup, but that SUV is based on Mitsubishi's Triton pickup sold in overseas markets.  We've got a while to wait to figure out what's up. The new Leaf is expected to be a mini Nissan Ariya based on Nissan's Chill-Out concept from last year's Tokyo Mobility Show. The image above is from the Momentum 2030 announcement, the little crossover we've highlighted has a DRL signature that fits the form factor.

Recharge Wrap-up: Indianapolis to switch 425 fleet vehicles to EVs, Chevy Corvette provides bat habitats

Indianapolis will deploy 425 battery electric and plug-in hybrid vehicles as part of its municipal fleet by 2016. The fleet will include such cars as the Nissan Leaf, Chevrolet Volt and Ford Fusion Energi. The city will also reduce its overall fleet by 100 vehicles. In all, the revised group - called the "Freedom Fleet" - will save $8.7 million and 2.2 million gallons of gasoline over 10 years. Read more at Hybrid Cars. EVs with longer range would make vehicle-to-home and vehicle-to-grid energy management systems more practical for the US. The idea of using EVs as energy storage for emergencies or times of high grid demand is currently being tested in Japan with Nissan's Leaf-to-Home system. The US is also interested in such capabilities, but the higher average energy use of American households would make larger batteries in EVs ideal for grid storage applications. Read more at Green Car Reports. LG Chem has broken ground on its EV battery plant in Nanjing, China. The factory, when constructed, will have a capacity of producing batteries for 100,000 cars per year according to the Korean company. The plant will supply batteries for Chinese automakers such as SAIC and Qoros. Construction is expected to be finished by the end of 2015 and LG Chem expects revenue of more than $933 million by 2020. Read more in the press release below. General Motors is using adhesive used in the Chevrolet Corvette Stingray to create habitat for threatened bat species. Artificial bat caves could help alleviate white-nose fungus that leads to diminished bat populations. Leftover adhesive is used to create stalactites in the artificial caves, allowing them more structure to hang from. GM has also provided Volt battery covers to create nesting habitats for bats, which eat harmful insects and help pollinate plants. See the videos and read more in the press release below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. LG Chem officially breaks ground for China EV battery plant Seoul, Korea - Oct 30, 2014 – LG Chem, Korea's leading manufacturer of advanced batteries, held a ground breaking ceremony for the construction of electric-car battery plant in Nanjing, China, to meet growing demand in the world's biggest car market.