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Renault wants to merge with Nissan, then go after Fiat Chrysler

The late Sergio Marchionne used to say consolidation would be the only way to compete against the biggest global carmakers. The company looks certain to fulfill that goal, but perhaps not in the way he intended. The Financial Times reports that Renault wants to begin merger talks with Nissan in the next 12 months. Assuming a merger gets completed, the plan is for the combined company to then pursue another merger, with Fiat Chrysler a prime target. Renault, Nissan, and Mitsubishi have been busy since cutting ties with ex-alliance boss Carlos Ghosn. They formed a new alliance board with Renault chairman Jean-Dominique Senard at the helm, Renault has shrunk the size of its board while Nissan added more outside directors, and the two agreed to a new governance structure to ease operational decision making. All three automakers have walked away from Ghosn-era goals to sell 14 million cars and find 10 billion euros in savings by 2022. New strategic plans for all three car companies are in the works. With stability in sight, it's said Senard wants to succeed where Ghosn failed — a full-fledged merger between Renault and Nissan with talks to begin "as soon as possible." Ghosn's pursuit of a merger last year in attempt to make the 20-year-old alliance "irreversible" is part of what led to his downfall, with Nissan executives including CEO Hiroto Saikawa against the push. The new effort is presented as larger scale being the only way for the alliance to take on companies like Volkswagen and Toyota. But the Nissan-Renault-Mitsubishi trio sold 10.76 million cars around the world last year, second to Volkswagen with 10.83 million sales, ahead of Toyota with 10.39 million. If Nissan hadn't suffered a 2.8 percent dip in sales, the alliance would have taken the top spot. If a little scale is good that means more is better, right? Pulling Fiat Chrysler into the alliance would add around 5 million annual sales, and would be another move in Ghosn's footsteps. The former honcho is said to have "held talks with FCA" about some kind of union within the past three years. The French government, which has a 15 percent stake in Renault and double voting rights, shut down the initiative. It's not clear if FCA will be an independent company by the time a potential Nissan-Renault merger closed, though.

Carlos Ghosn appears in court: 'I am wrongly accused'

TOKYO — Former Nissan Chairman Carlos Ghosn told a Tokyo court on Tuesday that he was innocent, defending his honor in his first public appearance since he was arrested on Nov. 19 and charged with false financial reporting. "Your honor, I am innocent of the accusations against me," Ghosn told the judge, speaking firmly and calmly as he read from a statement. "I am wrongfully accused." Prosecutors have charged Ghosn, who led a dramatic turnaround at the Japanese automaker over the past two decades, with falsifying financial reports in underreporting his income by about 5 billion yen ($44 million) over five years through 2015. They also say he is suspected of having Nissan temporarily take on his investment losses from the financial crisis. Seen for the first time since his November arrest, Ghosn was wearing a dark suit without a tie, and plastic slippers, and looked thinner and with gray hair. He rebutted the allegations against him point-by-point and said he had the option to leave Nissan but had decided to stay on. "A captain doesn't jump ship during a storm," he told the court in a strong voice. The veteran auto executive, a familiar face at the World Economic Forum and other elite gatherings, was handcuffed and led into the courtroom with a rope around his waist as the hearing began. Officers uncuffed him and seated him on a bench. Presiding judge Yuichi Tada then read out the charges and said Ghosn, a Brazilian-born Frenchman of Lebanese ancestry, was considered a flight risk — he was arrested on his arrival in Tokyo by private jet — and might try to hide evidence. In Japan, suspects are routinely held without bail, often due to fears about evidence tampering. During Tuesday's hearing, Go Kondo, one of Ghosn's lawyers, argued he was not a flight risk. "He's widely known so it's difficult for him to escape. There is no risk that the suspect will destroy evidence," he said. Facing the courtroom, Ghosn spoke proudly of the automaker's — and his own — achievements, such as reviving iconic models like the GT-R and the Z, expanding operations in China, Russia, Brazil and India and pioneering electric cars and autonomous driving. "I have a genuine love and appreciation for Nissan," he said. Ghosn has been held in spartan conditions at a Tokyo detention facility since he was taken into custody. In keeping with Japanese regulations, he has been allowed visits only from his lawyers and consular officials.

Nissan GT-R goes 183 mph on ice in Russia

When a pair of Russian pilots wanted to set a local ice-speed record, they chose a stock Nissan GT-R for the task. Roman Rusinov, a Russian race car driver, and Andrey Leontjev, a Russian auto journalist, took Godzilla to Lake Baikal and ran it up to 294.8 kilometers per hour (182.8 miles per hour) across frozen stuff estimated to be 1.4 meters thick.
While the worldwide record of 205.48 mph was set by Juha Kankkunen in a Bentley Supersports Convertible, the mark achieved by Rusinov and Leontjev establishes a new Russian record. Well done, boys. You can watch it all go down in the video below.