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Renault, Nissan limit French government interference

Renault and Nissan are taking action to limit the influence that one can exercise over the other's operations. The measures, announced by both automakers after meetings of their respective boards in Paris and Tokyo, aim to keep each other at arm's length. But more than that, they seek to cap the degree of influence which the French government can bring to bear on either automaker. The steps are being taken in response to investment moves by the French state. While the government's investment arm – known as the Agence des Participations de l'Etat (or state participation agency) – previously controlled 15 percent of Renault's shares, it increased its holdings this April to 19.73 percent. The action sparked concerns at Renault that the French government would attempt to dictate operating procedures to both automakers, potentially to favor production in France over other locations. Given that Renault holds a 43-percent stake in Nissan, the Japanese automaker grew concerned over potential French state interference as well. To assuage those concerns, Renault, Nissan, and the French government came to an agreement with three vital clauses. Most importantly, despite its nearly 20-percent holdings, the French government will be granted only 17.9 percent of voting rights in Renault (to be extended up to 20 percent under certain exceptional circumstances). Renault (and by extension the French government) will also be prevented from interfering in Nissan's governance. With those measures in place, Nissan will not seek more voting rights based on the 15-percent stake which it, in turn, holds in Renault. Having successfully concluded the deal and hedged against the threat of government interference, the Renault board reasserted its confidence in Carlos Ghosn. Through the unique terms of their alliance, Ghosn serves as chairman and CEO of both Renault and Nissan. The two cooperate closely and share resources extending far beyond their chief executive, but remain distinct companies rather than merge, as Fiat and Chrysler have. Renault Board approves alliance stability covenant between Renault and Nissan As early as 16th April 2015, the Renault Board of Directors unanimously reiterated that the sustainability, success and resilience of the Alliance since its very inception in 1999 were based on a balance of shares held by Renault and Nissan.

Recharge Wrap-up: Renault-Nissan at COP22, BMW launches Cruise e-Bike

The Renault-Nissan Alliance has been chosen to provide a fleet of electric cars for the UN's COP22 Climate Conference in Marrakesh, Morocco. The group will provide 50 passenger EVs – the Renault Zoe, Nissan Leaf, and Nissan e-NV200 – to shuttle delegates to and from conference venues. The Alliance will also provide more than 20 charging stations to support the shuttle fleet. The group provided electric shuttles for the historic COP21 summit in Paris last year. Read more from Renault-Nissan. FCA, Iveco, and gas grid company Snam have signed an agreement to boost natural gas as a cleaner alternative fuel for Italy. Under the Memorandum of Understanding, FCA and Iveco will work together to develop CNG vehicles, while Snam will invest in CNG supply facilities like filling stations to support a growing fleet. Italy leads Europe in the amount of natural gas consumed for transport, with 1 million vehicles currently on the road. Read more at Green Car Congress. LG Chem has officially announced it will build a battery plant in Poland to the tune of about $340 million. Located near Wroclaw in southwestern Poland, the plant is expected to produce 100,000 batteries a year for 200-mile EVs beginning in 2019. The plant could help Poland in its goal to reduce pollution by introducing a million EVs on its roads by 2025. "We will turn the Poland EV battery plant into a mecca of battery production for electric vehicles around the world," says UB Lee, President of LG Chem's Energy Solution Company. Construction begins in the second half of 2017. Read more from Automotive News Europe. BMW has introduced the Cruise e-Bike. Its Bosch Performance Line electric motor provides electric assistance at speeds of up to 15 mph. The battery can be either be removed or remain on the bike for charging, which takes 3.5 hours for a full charge. "BMW aims to be the leading provider of premium mobility services, and our bicycle collection furthers that mission," says BMW Accessory and Lifestyle Manager Eric Riehle. "As we enter the holiday season, these bikes make the perfect present for those wishing for their first BMW." The BMW Cruise e-Bike costs $3,430. Read more from BMW.

FCA-Renault merger talks: France wants job guarantees and Nissan on board

PARIS — France will seek protection of local jobs and other guarantees in exchange for supporting a merger between carmakers Renault and Fiat Chrysler, its finance minister said on Tuesday, underscoring the challenges facing the plan. Renault Chairman Jean-Dominique Senard arrived in Japan to discuss the proposed tie-up with the French company's existing partner Nissan — another potential obstacle to the $35 billion-plus merger of equals. Renault and Italian-American rival Fiat Chrysler Automobiles (FCA) are in talks to tackle the costs of far-reaching technological and regulatory changes by creating the world's third-biggest automaker. Nissan found out about Renault's merger talks with Fiat Chrysler only days before they became public, four sources told Reuters, stoking fears at the Japanese carmaker that a deal could further weaken its position in a 20-year alliance with Renault. A deal between Renault and FCA would create a player ranked behind only Japan's Toyota and Germany's Volkswagen and target 5 billion euros ($5.6 billion) a year in savings. Some analysts, however, say the companies face a challenge to win over powerful stakeholders ranging from the French and Italian governments to trade unions and Nissan. Patrick Pelata, a former Renault chief operating officer, also criticized the deal plan for undervaluing Renault and threatening to overstretch its engineering resources. By valuing Renault at its market price, the all-share offer attributes a negative 6 billion euro value to Renault operations after deduction of its 43.4% stake in Nissan and 3.1% Daimler holding, Pelata told BFM radio. "That's hardly reasonable," he said. "And I think that shareholders, including the French state, are bound to take issue with this sooner or later." Pelata added: "FCA has big problem because they haven't invested for the future — they have no electric vehicle platform and they've done nothing in autonomous cars." French finance minister Bruno Le Maire told RTL radio on Tuesday that the plan was a good opportunity for both Renault and the European car industry, which has been struggling for years with overcapacity and subdued demand. France sets conditions Le Maire also said the French government would seek four guarantees in exchange for backing a deal that would reduce its 15% stake in Renault to 7.5% of the combined entity. "The first: industrial jobs and industrial sites.